Obama On Board with Executive Pay Limits
The announcement last week of $18 million paid in Wall Street bonuses spurred an outcry among members of Congress, leading President Obama to unveil a plan to limit the executive compensation at banks that receive bailout funds.
But as Mark Winston Griffith has pointed out, public outrage over executive pay reached a frenzy months ago.
In fact, NYC Comptroller Bill Thompson discussed the public's anger at a Marketplace of Ideas event hosted by the Drum Major Institute last November.
The event focused on giving shareholders a say on executive compensation, a policy adopted by Blockbuster CEO and panelist James Keyes. He suggested then that companies institute such policies before the government steps in.
And it looks like the government has taken its first step in that direction.