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I like Carl Icahn's plan "say on pay" vote, giving shareholders voting rights to determine executive pay. Most of these banks have the government as major a shareholder who could determine executive pay.
One of the weaknesses of American capitalism is the level of governance. The board system does not work particularly well in the United States. Shareholders have less power than they should whereas managers can often dictate board composition and agendas at the expense of shareholders. America should look at Scandinavia, where it is much easier for shareholders to fire incompetent and venal executives.
I agree. Shareholders & investors need more power over corporate governance.