Corporate compensation is no place for the gov't to poke their noses at all. Period. no buts, no debate. Once they do that it will turn out that they will be defining the pay for all jobs in the US. Carpenters and Electricians- $25 per hour. It people $27.50- per hour. Who wants to got there?
The solution to the AIG corporate compensation problem is to have the SEC enforce existing rules to ensure that the compensation committee (i.e, the board of directors) are completely independent from the top executives of a company. Many top executives have lavishly protected themselves from the real owners - the shareholders. The job of the government should be to provide a framework for companies for which they should be held accountable. The SEC should be empowered to make companies follow the rules so that shareholders are not pushed aside as irrelevant.
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life. – Theodore Roosevelt
AIG "Bonusgate" could lead to compensation reform
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Posted - 05/14/2009 : 18:18:04
Posted - 05/16/2009 : 18:59:31
as irrelevant.
