For This We Elect Republicans?

Where in the Constitution is the Executive Branch given responsibility for executive pay? Reading the Wall Street Journal (paid link) one can only assume that Senator Edwards has already won the 2008 election and has installed his SEC chief early:

Stepping up its campaign to shed light on the mysteries of executive pay, the Securities and Exchange Commission has sent letters to nearly 300 companies across America critiquing disclosures in this year's proxy statements and demanding more information.

The SEC's requests could set up a confrontation over details the agency wants that companies say are competitive and should remain secret. The federal securities regulator, for example, wants to know more about the targets and benchmarks companies use when they tie pay to performance.

Huh? What?

Economics and Markets Posted by jk at August 31, 2007 11:05 AM