Effort to restructure exec pay smacks of arrogance
(NEWSER) - Clamping down on arrogant, risk-taking execs with an overconfident attempt to overhaul private sector pay structures shows that the arrogance has migrated to the Obama administration, writes David Brooks. The government is trying to micro-manage compensation packages at a wide variety of firms when pay regulation should be done, humbly, by addressing the imbalance in power between executives and shareholders, Brooks writes in the New York Times. "Over the past year, the bonfire of overconfidence has shifted to Washington." More»
