House votes to restrict Wall Street pay - Economy in Turmoil- msnbc.com
The House bill includes Obama’s suggestions to give shareholders a nonbinding vote on compensation packages and prohibit directors on compensation committees from having financial ties to the company and its executivesSomething that has come out of the Obama administraion that I agree with. I believe this is long over due. The system has been corrupt for a long while now. I have always believed the share holders should have the final say on bonues and exec pay.Obama said giving shareholders a “say on pay” and diminishing management influence on pay packages would go far in curbing the lavish pay seen at some banks.