Posted on 03/22/2009 9:13:38 AM PDT by BAW
The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and other companies as part of a sweeping plan to overhaul financial regulation, government officials said.
The outlines of the plan are expected to be unveiled this week in preparation for President Barack Obama's first foreign summit meeting in early April.
Increasing oversight of executive pay has been under consideration for some time, but the decision was made in recent days as public fury over bonuses has spilled into the regulatory effort.
Officials said that the administration was still debating the details of its plan, including how broadly it should be applied and how far it could range beyond simple reporting requirements. Depending on the outcome of the discussions, the administration could seek to put the changes into effect through regulations rather than legislation.
One proposal could impose greater requirements on the boards of companies to tie executive compensation more closely to corporate performance and to take other steps to assure that outsize bonuses are not paid before meeting financial goals.
The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report on some executive pay practices to the Securities and Exchange Commission. Last month, as part of the stimulus package, Congress barred top executives at large banks getting rescue money from receiving bonuses exceeding one-third of their annual pay.
Beyond the pay rules, officials said the regulatory plan is expected to call for a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, whose problems could pose risks to the entire financial system.
(Excerpt) Read more at 3.signonsandiego.com ...
They should look into the unearned wealth of John Kerry.
Yup. What we really need is the expert financial advice of such intellects as Frank and Rangel, Dodd, Reid, and Pelosi. (Even in our dollard senate and house - these folks are right there at the bottom.)
That’s “dullard” not “dollard”...even though the misspelling hits the mark anyway.
Watch the best and the brightest move right out.
They haven’t even figured out what happenned to heavy industry in America yet, and this is simply a different form of the same process.
Barack Obama. Making enemies in America, one group at a time.
Pro-lifers
Soldiers
NASCAR fans & hopefuls
Small business owners
Christians
Business media experts
Veterans
Doctors
responsible Mortgage holders
Bank executives
Who else can we add to this list?
Anyone who joined the pitchforks and torches mob mentality against AIG (conservatives included) is just egging on Obama toward more and more control and regulation over the private sector.
With White House based bolsheviks making up econmic policy as they stumble along, the democrats should have a grand time inspiring Wall Street to make heavy donations to their 2010 campaigns
Hey Warren Buffet- are you down to your last pocket of CHANGE yet? How bout ACORN sends a busload of poor people over to Berkshire Hathaway and then over to your house to envy it and demand you pay higher taxes?
Oh and those checks Wall Street wrote to cover the messiah’s record-setting costly inauguration/coronation must have all cleared
So why don’t they also tie congress’ pay to the deficit...?
Fair’s fair.
There won’t be public outcry unless or until celebrity and sports figure pay in included.
I can’t even call this idiot ‘President’ anymore. He’s just “The Prat”
“There won’t be public outcry unless or until celebrity and sports figure pay in included.”
Add book deals.
What are 0’s royalties up to, $8+ mil?
We should add to that a preference item on the ACTUAL cost of governmental perqs such as military aircraft usage compared to available commercial transportation, etc.
Obama now makes it official that the real "enemy combatants" are our nation's employers, investors, and entrepreneurs.
Now we know what he plans to do with Guantanamo after he frees those nice terrorists.
Who else?
How about (for a start)
Americans WHO LOVE THEIR COUNTRY
Americans PROUD OF OUR COUNTRY’S TRADITIONS
Americans PROUD OF OUR COUNTRY’S HISTORY
Americans WELL AWARE OF OUR BLEMISHES, BUT STRIVING TO
MAKE THEIR COUNTRY BETTER
Americans WORRIED ABOUT THE FUTURE OF THEIR GRANDCHILDREN
Americans WHO LOOK TO A TRULY BETTER FUTURE.
Americans WHO JUST PLAIN WANT THEIR COUNTRY TO HAVE A
FUTURE!!!!!!!!!!!!!
I don’t want to see the gov’t getting involved with salaries.
I do want to see corporations making ceo’s actions more accountable. No more ceo’s leaving a corporation with huge payouts and golden parachutes only to find out a year or two later their actions caused the corporation to collpase ie.e the housing mess.
Some of their golden parachute money should be left in an escrow accout for a period of years-say 5 years.
This accountability clause needs to come from the stock holders, not the gov’t.
Captain, I share your frustration in this regard, believe me. But I think you missed my point on this. You’re preaching to the choir here.
I was trying to recall, in some kind of epiphany-inducing order, how each of Obama’s implemented laws, policies, and executive orders, are systematically offending and insulting each American group in a selected common interest.
We could make a T-shirt with a list like this and sell it, or pass it around.
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