Schumer: “Something’s out of wack with Executive compensation”
By Kayleigh Harvey – Talk Radio News Service
The Senate Banking, Housing and Urban Affairs Committee met for the second time to discuss “Enhancing Investor Protection and the Regulation of Securities Markets.”
At the hearing, Senator Chuck Schumer (D-N.Y.) said, “We all believe people should be rewarded for good performance, that’s not the problem, but what we’ve seen in many instances that has enraged Americans is a heads-eye wind tail you lose system. In which executives are rewarded for flashing the pan short term gains, or even worse, rewarded richly when the company does poorly and the shareholders have been hammered.”
March 26, 2009
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