Barney Frank - Conservative Hero?

[Barnaby]

This will really be a trip to watch- at a time when the average Republican stockholder is feeling raped by management salaries, who comes riding to his rescue but... Barney Frank?

http://articles.moneycentral.msn.com/News/CorporateGreed.aspx

[KoKo]

1. His proposals are excellent and even Repugs should go along with

most of them:

From the Article:

Democrats want to bring democracy to the boardroom. And -- more bad news for CEOs -- to the corner office.

After six years in which Republicans have run the show in Washington -- and during which CEO salaries have climbed 209% -- Democrats in Congress see executive-compensation reform as one way of flexing their populist muscles. Their goal is to give shareholders more say in how corporations are run and, more specifically, how top executives are paid.

Spearheading those efforts will be Rep. Barney Frank of Massachusetts. In January, when his party once again takes control of the House and Senate, he'll take over as chairman of the House Committee on Financial Services, a key panel for setting policies that affect public companies, the stock markets and investors.

In what would be a major power shift inside corporations, Frank hopes to give shareholders an absolute right to reject bloated compensation -- everything from salaries, bonuses, options and huge pensions to private use of the corporate jet. Frank says change is sorely needed because boards are too often stacked with management cronies who fail at their assigned task of looking out for shareholders.

"Boards of directors cannot be relied on because too many are themselves CEOs or they have been hand-picked by CEOs," says Frank, who spoke with me earlier this week. "Directors can do some things well. But being a check on CEOs is not one of them."

[mom cat]

2. Wow! Just wow! Great move Barney Frank.

:toast:

[KoKo]

3. K&R....OP's Subject line might be a turnoff to what Barney is proposing but

Go to the LINK and READ! It's good stuff. Bookmark the article to read later!

[KoKo]

4. Heard Barney on with Larry Kudow (CNBC Supply Side Shill) about SS Privitization

where Larry was pressing him on whether he would be open to privatizing SS because it would be So GOOD for our Economy and Wall St.

Barney said: "Larry people don't have the money to invest in Private Accounts there's nothing left over after their paychecks and we are not going to talk about any Privatization until the people have enough money in their pockets to even think about it."

That was the greatist smackdown to Mr. "Ain't Capitalism Great...Ain't America Great" Kudlow, I've ever heard anyone do. He couldn't answer. :D