Wall Street Journal: Loopholes Sap Potency of Pay Limits

Wall Street Journal: Loopholes Sap Potency of Pay Limits

February 6 2009

President Barack Obama’s crackdown on Wall Street pay contains loopholes, and may have limited impact in restraining compensation, according to some executive-pay consultants and management attorneys.

“You’re going to have executives ask not to be called a senior executive,” said Steven Hall, a New York pay consultant.  He warned companies not to play games because they will embarrass themselves before a hostile public and government.