Geithner: No Govt. Caps On Executive Compensation
WASHINGTON, D.C. The U.S. government should not place a cap on the compensation of Wall Street executives, according to Treasury Secretary Timothy Geithner. Instead, Geithner suggested that shareholders should have a “say on pay” vote that would curb the risk-taking of their executives. “You had a crisis magnified by the fact people were paid to take a certain amount of risks,” he told Newsweek turing an interview last week. While Geithner admitted that the Treasury was running smoothly to implement policy, The Washington Post reported that vacancies in key positions still remain. Essentially, management is “dominated by a small band of Geithner
