Our Dark Overlord Wants to Control Executive Pay

Freakin’ Commies:

Official: Obama wants shareholder say on exec pay

WASHINGTON [AP] – An administration official says President Barack Obama will ask Congress to give shareholders a nonbinding voice in how much corporate executives are paid. It’s an effort to link compensation to long-term performance rather than short-term gains.

The official said the president also will seek legislation that requires corporate compensation committees to be independent from corporate management. The move would give the Securities and Exchange Commission authority to strengthen the independence of the panels that set executive pay.

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Treasury Secretary Timothy Geithner was expected to spell out details of the plan later Wednesday.

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