1. CEO’s are quite often over compensated. This is a problem arising from the incestuous method in which a company's board of directors (those deciding the CEO’s compensation) is usually filled. I firmly believe it is often a case of the well connected taking care of each other while robbing the shareholders blind.
It could be argued that the government should have a role in regulating the openness of boards as a matter of shareholder rights, but that is a long shot from mandating compensation limits upon the shareholders.
2. When the shareholders go to the government with their hand out, they best understand that the government will want something in return, and that something is always power. Don't want public control? Don't ask for public money.
I'll say it.....as an investor, I have a few rules.
1) Never lose money
2) See rule number 1
3) I demand stable or increasing dividends
Otherwize, I simply don't care what the CEO makes....and I certainly don't want Obama or Barney Frank making decisions regarding my investments.