Campaign 2010

Jun 11, 2009

Representative Hensarling Thinks Golden Parachutes Are a “Nonexistent Problem?”

 

Representative Hensarling thinks golden parachutes are a "nonexistent problem?"

 

Maybe that explains why he voted against limiting excessive executive pay at companies being supported by American taxpayers several times this year. 

 

"Time and again, Representative Hensarling voted to protect executives who ran their companies into the ground, at the expense of the American taxpayer," said Jessica Santillo, Southern Regional Press Secretary for the DCCC.  "Representative Hensarling's belief that irresponsible golden parachutes are a ‘nonexistent problem' show just how out of touch he is."

 

Reuters reported that Representative Hensarling said, "executive compensation limits to address systemic risk are the wrong remedy for what is probably a nonexistent problem."

 

Background

 

  • "Executive compensation limits to address systemic risk are the wrong remedy for what is probably a nonexistent problem," said Republican Representative Jeb Hensarling of Texas. [Reuters, 6/11/09]

 

  • Representative Hensarling voted against placing new strict requirements on banks and other financial institutions that accept government assistance under the Treasury Department's $700 billion financial rescue program. [HR 384, Vote #26, 1/21/09]

 

  • Representative Hensarling voted against a bill to prohibit "unreasonable or excessive" pay at companies receiving any of the $700 billion federal assistance package. [HR 1664, Vote #182, 4/01/09]

 

  • Representative Hensarling voted against imposing a 90 percent tax on employee bonuses paid in 2009 by companies that received more than $5 billion in federal aid. [HR1586, Vote #143, 3/19/09]

 

 

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