White House Flip Flops On Reining In CEO Pay

[laughingliberal]

The White House is intervening at the last minute to come to the defense of multinational corporations in the unfolding conference committee negotiations over Wall Street reform.

A measure that had been generally agreed to by both the House and Senate, which would have affirmed the SEC's authority to allow investors to have proxy access to the corporate decision-making process, was stripped by the Senate in conference committee votes on Wednesday and Thursday. Five sources with knowledge of the situation said the White House pushed for the measure to be stripped at the behest of the Business Roundtable. The sources -- congressional aides as well as outside advocates -- requested anonymity for fear of White House reprisal.

The White House move pits the administration against House Speaker Nancy Pelosi (D-Calif.), who told Barney Frank (D-Mass.) to stand strong against the effort.

"I met with the Speaker today and she said, 'Don't back down. I'll back you up,'" Frank, the lead House conferee, told HuffPost. "Maxine Waters is very upset, as are CalPERS and others."

http://www.huffingtonpost.com/2010/06/17/white-house-guts-reform-t_n_615952.html

[HereSince1628]

1. Which occupant of what room in the White House is flip flopping?

This anonymity crap seems routine but not part of the transparent White House we were promised.

[Canuckistanian]

4. I think we know which room

The initials on the door are "R. E."

[Nite Owl]

2. Flip Flops aren't surprising

these days unfortunately.
At the behest of the Business Roundtable? I'm sure they will all vote for him 2012.

[laughingliberal]

3. No doubt.

They're probably all rushing down to change their voter registrations.

:sarcasm: