MARKET TALK: Spill Diverts Eyes From Focus On Financial Reform

18th Jun 2010 15:19

10:19 (Dow Jones) It appears the White House may be changing its mind on reining in CEO pay. According to The Huffington Post, a measure that would've affirmed SEC's authority to allow investors to have proxy access in controlling executive salaries was stripped earlier this week by the Senate in conference committee votes. But the change doesn't seem to be garnering attention it deserves. "Well, the BP disaster, in particular the intense press coverage of this week, appears to have provided the Administration with some very useful air cover, by diverting public attention from the final rounds in the battle to reform Wall Street," naked capitalism blogger Yves Smith says. ([email protected]) (http://www.nakedcapitalism.com/2010/06/white-house-out-to-block-shareholder-say-on-executive-pay-in-banks.html) Call us at (212) 416-2181 or email [email protected] Visit the Market Talk blog at www.djnmarkettalk.com. (END) Dow Jones Newswires June 18, 2010 10:19 ET (14:19 GMT)