Don’t be fooled by all the poor-mouthing around the latest annual executive pay surveys. With Washington dithering on CEO pay reform, America’s chief executives still have plenty of reason to celebrate.
The new health care reform legislation that President Obama has signed into law takes a little-noticed but precedent-setting swipe at executive pay excess.
The White House wants to require firms that do business with the government to pay decent wages. That could work — if we go after all pay that’s indecent.
Would a stiff tax on banker bonuses blunt Wall Street profiteering — or let the vast majority of America’s wealthy off the hook?
Unfortunately, lawmakers aren’t doing too well either — and the big bank bonus grab has once again shifted into overdrive.
To be effective, the lead executive pay reformer in Congress is now understanding, executive pay reform needs to go well beyond empowering shareholders.
The awesomely affluent of high finance, if current trends continue, seem almost certain to survive the mess they’ve created — with their wealth and power largely intact. And Treasury and Congress don’t appear to really mind.
Senate opponents of an auto bailout want autoworkers to give up what’s left of their middle class status. But a different bailout approach — keyed off CEO pay — could actually leave our middle class strengthened.
Who should foot the bailout bill? Those who created the mess on Wall Street? Or those who derived fabulous benefit from it? For messes environmental, we already have an answer to questions like these.
The Wall Street bailout legislation, despite claims to the contrary, does precious little to limit the outrageously extravagant pay rewards that give top executives the incentive to behave outrageously.