If this is a victory, I sure don’t know what a defeat would look like.
A July 29th New York Times headline states, "In victory for Obama, House panel approves Restraints on Executive Pay." First, you should note that an approval by a panel and a token will buy you a ride on the subway. By itself, it is not worth much. The House has to approve it, and – given the lobbies lined up — it may not. More fatally for the bill, the Senate is quite unlikely to support such an anti-Wall Street move.
Wait, wait, I am just warming up. The bill does not limit any one’s pay by one penny. It merely allows shareholders to vote on the matter. If and when they do – the vote is not binding! That is, the corporations are free to pay their executives all they want, anyhow.
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