June 11, 2009

Executive Compensation

J. W. Verret

Senior Affiliated Scholar

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A House Financial Services Committee hearing was held a on regulating executive pay at publicly traded companies. Obama administration officials testified on how to eliminate the compensation practices that encouraged excessive risk-taking and contributed to the financial collapse that has devastated the economy. The Obama administration is expected to appoint a "special master" to oversee executives' compensation at companies receiving large amounts of government aid, with the power to reject pay plans deemed excessive.