US government seeks to rein in executive pay
Democrats want to push administration on US corporate pay strategies
Jim Kuhnhenn, Associated Press Writer
On Thursday June 11, 2009
WASHINGTON (AP) -- The Obama administration is taking a half-step toward taming U.S. executive pay. Some lawmakers prefer a fuller stride.
Democrats on the House Financial Services Committee said Thursday the administration's efforts to hector the private sector into reining in executive pay might not go far enough.
The administration contends that excessive compensation contributed to the U.S. financial crisis, but rejects direct intervention in corporate pay decisions.
Instead, the administration plans to seek legislation that would try to rein in compensation at publicly traded companies through nonbinding shareholder votes and less management influence on pay decisions.
I don't know if we can survive another six months of the change this guy wants to enact - from government ownership of auto companies, health care, and now a beginning - telling the private sector how much is too much. The American people did not elect you Mr. Obama to turn our country socialist. In fact, this isn't even socialist - it is Marxist - socialist countries do not dictate what individuals may earn. Take control of what else?
Obama
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