Corporate CEO's Caught Scheming on Tape: Your Bonuses Are Safe.

OPERATION ACCOUNTABILITY

The average CEO received an overall compensation (salary, bonuses and other perks) of more than $18 million in 2007, a 20.5 percent increase from 2006. During that same year, the average pay for workers was only $36,140, an increase of 3.5 percent.

And even though CEO's are saying their salaries were slashed in 2008, they're still receiving huge perks & stock options.

My fellow Americans, this is simply outrageous.

I'm sure you - or someone you know - are worrying about the rise in unemployment, foreclosures & general state of our fast - tanking economy. The fact that these CEO's --> many of whom work for companies receiving taxpayer money from the financial bailout <-- continue to rake in astronomical salaries, bonuses & perks, amidst these worries is, unacceptable.

Public Citizen is calling for an effective cap on executive pay and the restructuring of executive compensation as part of the next step in "Operation Accountability," our campaign to BRING ACCOUNTABILITY and TRANSPARENCY to the FINANCIAL BAILOUT.

Both Congress and the Obama administration have talked about capping executive pay. But so far, the plans are riddled with problems. The White House has indicated it wants to follow its own guidelines for restricting executive pay, but these are less stringent than those issued by Congress and contain hefty loopholes.

And, even if the White House doesn't try to backtrack and ask Congress for "corrective legislation" to soften the blow to CEO's, Treasury Secretary Tim Geithner has an entire year to develop regulations implementing the law - giving companies plenty of time to figure out a way to circumvent pay caps.

Please, sign our petition today demanding the Treasury Department devise a NOW plan to restructure executive pay ---> one without loopholes ---> one BOTH swift and decisive <---

Pay restrictions are a crucial part of fixing the problems from within our own financial regulation system so we don't have an economic crisis like the current one again.

Lobbyists are flocking to Washington, D.C., to fight these pay restrictions, so we must act immediately.

Please, sign our petition today, and help us reach our goal of 100,000 signatures BY THIS THURSDAY.

Thank you for all you do,
Maureen Backman
Public Citizen
feedback@citizen.org

P.S. - Act Today!

LET THE REVOLUTION BEGIN!

Thanks for all you do!
Live your values. Love your country.
And, remember: TOGETHER, We can make a DIFFERENCE!

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.