7/31/2009 - The House of Representatives voted to place restrictions on Wall Street executives' compensation following the release of news that nine banks, each of which had taken U.S. government aid, rewarded its executives with bonuses of over $1 million each. The vote is the first piece of a proposal from President Obama to increase oversight on financial institutions. The legislation includes suggestions such as limiting large companies from creating pay incentives that may damage the economy or viability of the institution, giving shareholders a nonbinding vote on compensation packages, and prohibiting directors on compensation committees from having a financial relationship with the company and executives.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html