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Obama Searching for “Pay Czar” and Shareholder Vote to Limit Executive Compensation
The Obama administration yesterday (Wednesday) continued its assault on highly paid Wall Street executives, announcing plans to appoint a “pay czar” to oversee compensation at financial firms receiving Troubled Asset Relief Program (TARP) funds. The government also will create a new program to give shareholders at nonparticipating firms a vote on executive pay packages.
President Barack Obama has targeted executive pay practices as part of a larger effort to overhaul regulations and prevent a repeat of the worst financial crisis since the Great Depression.
Obama will unveil a “series of specific proposals” on…
11Jun2009 | Money Morning | 0 comments | ContinuedExcessive Executive Compensation: When is Too Much, Too Much?
With every disclosure I receive on executive compensation coming out of failing and defunct firms it makes me sick – as an investor and citizen alike. And I’m not the only one…
Many Americans have been outraged as the CEOs and other executives responsible for the financial crisis have pocketed millions of dollars in bonuses and golden parachutes.
And rightfully so.
The recent bailouts of banks, automakers and insurance companies has brought excessive executive compensation into the public eye. And the numbers are staggering.
- According to The Corporate Library, in 2008 the CEO of an S&P 500
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9Jun2009 | Investment U | 0 comments | Continued
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