Secretary-Treasurer Trumka: Here’s What Ails Corporate America
Patrick O’Meara, corporate finance specialist in the AFL-CIO Office of Investment, highlights a CNBC discussion by AFL-CIO Secretary-Treasurer Richard Trumka on the need for making it clear that excessive CEO pay plays a key role in our nation’s credit crisis.
In a recent appearance on CNBC, AFL-CIO Secretary Treasurer Rich Trumka explained how the issue of excessive executive pay must be front and center in any honest discussion of the causes of the credit crisis now threatening the health of our economy. If CEOs are rewarded for putting at risk our companies—and, as we now see, even our financial system—they will not hesitate to do it. Shareholders and government regulatory agencies need to be able to make sure that CEOs are not given the wrong incentives.