October 20, 2010
I wholeheartedly support the new rulings regarding the so-called "say and pay" rules. Putting "sunlight" on executive compensation is decades overdue. Please do not let competing interests dilute the regulations. It is very important that Boards of Directors know that Executive compensation and "golden parachute" arrangements will be made public-at least among share holders. Hopefully, by forcing disclosure, compensation and packages will be kept to a somewhat reasonable level.
Although the SEC may not be mandated to make further regulations regarding executive compensation, I strongly encourage the SEC to push the issue of reducing the gap between the lowest and highest compensation in a company. Such measures may be the only way of ensuring the continuing existence of a middle class--an absolute necessity for the functioning of a representational form of government.
The recent scandals and the current economic crisis brought on by unbridled greed are proof that a "pure" capitalistic system will not work for the good of all. Any semblance of a just and equitable society will require regulation of human behavior. The "playing field" needs to be made and kept level and the government is the only authority we in this country have available to do that.