Administration Seeks Increase in Oversight of Executive Pay

[babsbunny]

http://www.nytimes.com/2009/03/22/us/politics/22regulate.html?_r=1&partner=rss&emc=rss

WASHINGTON — The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly 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 Obama’s first foreign summit meeting in early April.

Officials said the proposal would seek 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.

[PDJane]

1. NOT until you nationalize the fderal reserve.

Make it what we would call a crown corporation.

[Optical.Catalyst]

2. The Congress should seek oversight of all executive pay

Companies can pay their Chief Executives as much as they want too, but there needs to be a law linking the average compensation given to all workers in the company to the pay of the CEO. The lowest paid employee receives an amount proportional to the highest payed executive.