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Report: Admin Intervenes to Oppose Curbing CEO Pay

HeadlineJun 21, 2010

The Huffington Post is reporting the Obama administration is opposing measures that could lead to curbs on executive pay in congressional talks on financial reform. Last week, the Senate stripped measures in conference committee that would have affirmed regulatory authority to give shareholders proxy access to corporate decision making. The proxies would ostensibly allow investors to vote for limiting executive salaries. Sources close to ongoing conference committee talks between House and Senate negotiators say the White House pushed for the provision’s removal after lobbying from the Business Roundtable, a lobby of corporate CEOs.

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