CEO Compensation, Part V

Somehow, I doubt that Bush and I agree about this, despite these comments of his today:

NEW YORK - President Bush took aim Wednesday at huge salaries and bonuses for corporate executives, going to Wall Street to say compensation packages should hinge on how good a job a CEO does for the shareholders.

And, as you read on, you find this is simply posturing to head off a bill in Congress to force companies to put their CEO's pay to a vote of the shareholders.

The White House statement appeared aimed in part at legislation that Rep. Barney Frank (news, bio, voting record), D-Mass., chairman of the House Financial Services Committee, has said he will push, requiring shareholder approval of executive compensation plans.