Principles, not pitchforks

摘要

Although the debate about excessive executive pay in America has been heated, cool heads prevailed when the time came to tackle the problem. On June 10th Tim Geithner, America's treasury secretary, said the government would not impose fierce restrictions such as caps on pay. Nor would it meddle in the detail of compensation packages. Instead, it wants companies to adopt a series of broad principles on pay and it intends to make it easier for shareholders to ensure that they do so.