The financial institutions have a conflict of interest.

Reader comment on: Bogle on Corporate Governance

Submitted by Lyle (United States), Jan 19, 2010 16:09

Among the many is they want to be 401k suppliers to the very companies they own. What is wrong with separating the roles, and further allowing 2% of the stockholders to nominate director candidates on the companies proxy statement. Let the owners have a real choice. Today companies are run by managment for management. Further do like the UK or a bit further and mandatory share holder votes on comp for the CEO the top 5 and top 25 as groups. Either that or end the sham of shareholder votes altogether. Did the shareholders of CiTi get a chance to vote on the stupid policies that brought the company down? No nor effectively did they get a vote for director unless one means a vote in the Soviet sense.

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