Proposed Law Empowers Shareholders

Many investors and a large part of the general public have expressed their outrage and disgust at the excessive compensation practices of several corporate executives essentially draining their companies dry. In response to this situation, Obama has proposed new legislation that would give shareholders larger control over pay practices, allowing them to limit these golden parachutes and other forms of reckless compensation.
 
“This financial crisis had many significant causes, but executive compensation practices were a contributing factor,” according to Treasury Secretary Timothy Geithner in a statement he released today.
 
The say on pay law, as the concept is referred to in the …read more