Or something like that. Pepper Culpepper has an outlandish idea:
...the Financial Services Committee could annually identify the top two executives whose compensation is most out of line with company performance. In recognition of their monstrous pay and of Congressman Frank's past legislative efforts, these could be called the Frankenpay awards. Winners of the awards would be required to testify before the committee about the details of their pay packages. Boards of directors will think twice before approving a pay package likely to land a CEO in front of Congress, and they would not be able to avoid the cap on direct pay by choosing alternative payments, such as stock options, because the awards would target the whole compensation package. If, as many current executives claim, the race for talent simply demands rich terms, then they will be able to state that case directly to the public. And if the press agrees that the worst of the pay deals seem reasonable, there will be no story to report. If not, the press gets a guaranteed field day.
This is a very strange, and bad, way to solve the pernicious use of undeserved bonuses. It might be cathartic, but it's not realistic.
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