According to Drudge, Obama will call for increased oversight of 'executive pay at all banks, Wall Street firms and possibly other companies' as part of sweeping plan to 'overhaul financial regulation'.
This seems so retarded it makes me laugh. Are you saying that companies will now have to anwser to the public and Overlord Obama if they want to pay out bonuses? Are we just gonna skip the utopian socialism and go straight to Stalin? Police state anyone?
Personally I could care less what the "public" thinks of my bonus and would take the money and run with it no matter what. But if the government is able to take action on this public outrage (since B. Hussein Obambi can pass whatever he wants in the liberal Congress) I think it could be the greatest infringement on campitalism and worker's rights ever! Oh wait....only blue coller workers matter to the Democrats....wait, still wrong only poor, union controlled, factory workers. Remember the House of Leaders say that the one cannot discover anything good...and BUSINESSMEN are EVIL!
This effort was inevitable. Is it legal?
My hope is that they cap one form of comp and leave something else (stock/ESOP) alone.
I don't think answering to shareholders is absurd. Was what you read referring to the public at large setting the pay, or just the shareholders?
So what do you do? -I work for an investment banking firm. Oh okay; you are like my brother, he works for Edward Jones. -No, a college degree is required in my profession
Any restrictions on a firm not receiving bailout money beyond a mandatory disclosure of executive compensation plans to shareholders is something so fucked up that it's hard to put it into words.
Well, I don't exactly agree. If you read anything on value investing or pe (which is basically a form of value investing), properly structuring executive compensation is one of the most important parts of owning a company, and something present law is designed so shareholders really don't influence that. I would consider something that gives shareholders more influence in executive compensation a reasonable change, and I think that institutional buyers would be the only ones who took an active interest, and they are informed enough that a properly written regulation makes sense.
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