Administration seeks increase in oversight of executive pay

[Chris_]

Administration seeks increase in oversight of executive pay

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 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.

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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 U.S. government bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about 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.

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Say bye-be to the free market.  Uncle Zer0 sure is moving fast.

[NHSparky]

Not only that, it's going to drive anyone with even a modicum of competency to firms which are NOT under the TARP jackboot, thereby making those troubled companies even more difficult to remain viable, let alone recoup our "investment" in any sort of reasonable fashion.

Nice goin, idiots.

[Chris_]

Not only that, it's going to drive anyone with even a modicum of competency to firms which are NOT under the TARP jackboot, thereby making those troubled companies even more difficult to remain viable, let alone recoup our "investment" in any sort of reasonable fashion.

Nice goin, idiots.

I have no doubt that Uncle Zer0 is planning to extend these regulations to any corporate "executive" at public or private companies.  Success is to be scorned.  "The Rich" are the debil.