This morning I attended a meeting with Treasury Secretary Tim Geithner, SEC Chairman Mary Schapiro, Federal Reserve Governor Dan Tarullo, AFSCME’s Richard Ferlauto, CII’s Ann Yerger, Business Roundtable President John J. Castellani, TIAA-CREF’s Hye-Won Choi, the new special master on executive compensation Kenneth Feinberg, and others to discuss executive compensation. In my comments, I discussed the importance of indexing option grants and clawbacks but emphasized that the focus has to be on the “demand side” of executive compensation, removing obstacles to effective oversight by shareholders, ratings agencies, securities analysts, and other assessors of risk. As I will in my testimony, I also discussed some of the new problems in pay already designed to circumvent recent scrutiny and restrictions. Secretary Geithner issued a statement following the meeting: http://www.ustreas.gov/press/releases/tg163.htm
Nell Minow — Editor
