The House today passed the Shareholder Vote on Executive Compensation Act, which would, “for the first time, allow shareholders of corporations to at least have a say in the salaries given to executives.” Passage came only after conservatives attempted to use a legislative device called a “motion to recommit” to kill the measure. It’s been a common tactic in the 110th Congress. “The strategy is to institute a divisive change to the bill at the last moment, often unrelated to the original intent of the legislation, hoping that the altered bill can then be defeated on final passage.”
Financial Services Chairman Barney Frank, who introduced the bill, spoke out against today’s motion to recommit in his usual biting and entertaining way. Watch it:
Yay! One for us!
April 20th, 2007 at 10:54 pmMotions to recommit are pretty standard practice in Congress and I think the folks down at ThinkProgress know this. As a gesture to the minority party, just about every bill (even in Republican-led Congresses) allowed one motion to recommit.
In fact, H.Res. 301, which set the guidelines for the motion to recommit, was authored by the Democratic-led House Rules Committee and approved by 226 Democrats.
TEXT: “The previous question shall be considered as ordered on the bill and amendments thereto to final passage without intervening motion except one motion to recommit with or without instructions.”
I’m with you that Republicans are dumb, but it is the responsibility of the progressive community to not turn into the right-wing nuttosphere and take advantage of people and press that don’t know that much about Congressional process.
April 20th, 2007 at 10:58 pmgood points, scott.
April 20th, 2007 at 11:00 pmGood I hope this passes, to think I used to preach about buying American vehicles because it’s one of the biggest purchases, and last items we make here in the Good ole USA. But after seeing how Ford, GM etc lobbied against mandates for better mileage in their vehicles, as well as Ford’s CEO making 28 million for 4 months of work, while laying off 1000’s of workers. I’ll never buy another Ford, or American car again. Jesus H Christ saving all the believers isn’t worth a 100+ million a year. Sadly he’d be unemployed, as no Christians I know follow his teachings.
April 20th, 2007 at 11:02 pmScott, no one is taking advantage of anyone. Motions to recommit are not inherently wrong — they’re wrong when they’re introduced abruptly (minutes before the vote, in this case) and when they are used simply as an effort to kill legislation that already has majority support. Motions to commit can be justified and supported in some cases, but not in this one.
April 20th, 2007 at 11:05 pmI agree with michael and Scott, Republicans are dumb.
April 20th, 2007 at 11:05 pmWatch out Scott, Michael wants to be friends with you…
April 20th, 2007 at 11:06 pmBarney pointed out the underhandedness quite well. It is not a bad thing to have a motion to recommit, but to try to stop the vote with a motion on a subject that they already approved in committee (probably hoping no one was paying attention) was low. Of course, low doesn’t surprise me coming from that side of the aisle. Party over country, every time.
http://static.crooksandliars.com/2007/04/gonzo_bush.jpg
April 20th, 2007 at 11:06 pmYou GO Barney!
April 20th, 2007 at 11:12 pmI have read recently of a spate of insider trading that has robbed investors of billions, this would seem to be related. Such as Nacchio.
http://lawprofessors.typepad.com/whitecollarcrime_blog/insider_trading/index.h
April 20th, 2007 at 11:13 pm1. Motions to recommit are *always* used to kill legislation, whether it has majority support or not. If there was a chance that a motion to recommit would succeed, the majority party would never authorize it.
2. Motions to recommit are virtually *always* introduced right before the actual vote. I just took a quick check of THOMAS, and of the dozen bills that I looked at that received a final vote in the House this session, only 1 had a motion to recommit voted upon more than 10 minutes before the actual vote on the bill.
April 20th, 2007 at 11:13 pm1. Motions to recommit are *always* used to kill legislation, whether it has majority support or not. If there was a chance that a motion to recommit would succeed, the majority party would never authorize it.
By support, might that mean also pork?
April 20th, 2007 at 11:18 pmWow, Frank is a badass!
April 21st, 2007 at 12:17 amDamn, I love this man!
April 21st, 2007 at 12:25 amGood for Barney Frank, but the GOPers are not scared of him. If Frank wanted to really help the nation, then he needs to OUT all the closeted Republicans that he secretly knows about in the Congress.
April 21st, 2007 at 12:40 amHow IronicLiberals praising a law that is the essence of free market capitalism…Whoda thunk it?
April 21st, 2007 at 1:02 am#16 Are you joking Johnny? Cause I guarandamntee you there is a good reason the righties are against it. It isn’t because they are against the “free market” (which is simply a false front). It is because they are pro-big business. You a$$monkeys don’t like small business and your stance on this bill proves it.
April 21st, 2007 at 1:06 am#2 Congrats, Scott. You got an attaboy by Michael.
April 21st, 2007 at 2:23 amThe time of the vote does not indicate the time that the text of the motion to recommit is provided for members.
Nico
April 21st, 2007 at 2:49 amThere’s nothing new or unusual in the Republican motion. It’s perfectly legal and useful minority tactic. If you dems can’t stand the heat, maybe you should get out of the kitchen.
April 21st, 2007 at 5:20 am>There’s nothing new or unusual in the Republican motion. It’s perfectly >legal and useful minority tactic.
“its legal its legal….” waaaaaa. are you a lawyer and an asshat frankie, or just an asshat?
April 21st, 2007 at 6:19 amIf it was illegal, I don’t think Barney would be resorting to silly political rhetorics.
April 21st, 2007 at 6:33 amGotta love straight talking Barney… he tells it like it is. He is not like the lying Republicans that were whining in the audience.
It’s a beautiful thing to watch… the unraveling of the Republican Party. Who could admit to being a Republican and still hold their head up high? Only dumbf**ks, that’s who.
April 21st, 2007 at 7:50 amIf it was illegal, I don’t think Barney would be resorting to silly political rhetorics.
Comment by Frank Matthews — April 21, 2007 @ 6:33 am
You mean, like Republican members of Congress crying on the floor of the House or Senate?
April 21st, 2007 at 7:54 amAnd your point is? We are going to fight you on every issue and all the way. You will never get your liberal agenda off the ground. We will kill all your proposals in Congress, on the floor of the Senate and with the veto-pen of the President. It will be scorched earth politics from now on.
–
April 21st, 2007 at 8:56 ammatthews.frank@gmail.com
Frank (25),
What do you mean, “from now on”? When in the past 6 years has the Republicans not employed “scorched earch politics”? That’s been the modus operandi of the Republican party for as long as I can remember. Please describe the spirit of openness and compromise that characterized the last congress. Did the majority then have open rules, or rather did we see committee chairmen shutting off the mics and ending meetings in a huff?
Frankly, we’ve seen the results of 6 years of unfettered Republicanism. Now it is time to begin repairing the damage those 6 years have inflicted on the country. If Republicans have suggestions which benefit the country as a whole, those should and will be considered. If all they have to offer are measures to benefit their narrow constituency, they’ll have to wait until their lies have again swayed a poorly informed and gullible populace.
It is true that with “scorched earth politics” – with veto and fillibuster, you Republicans can postpone until after the next election the progress necessary to repair our country, but in doing so you will have to braodcast your selfish and petty nature. And, in the mean time, Congressional hearings will continue to expose the deplorably widespread corruption, cronyism, incompetance, irresponsibility and graft which has characterized the last six years of Republican mis-rule.
April 21st, 2007 at 12:39 pm“And your point is? We are going to fight you on every issue and all the way. You will never get your liberal agenda off the ground. We will kill all your proposals in Congress, on the floor of the Senate and with the veto-pen of the President. It will be scorched earth politics from now on.”
Frank…keep it up. You are only doing the Democrats a favor by this kind of approach to government. The end result will be a complete house cleaning in 08′. Already 58% of the American public says they will vote Democratic without even identifying a candidate Each time the Republics obstruct a bill that comes from the Democratic Congress, a few more percentage points will be added. We all know how well the Republics did when they had absolute total control over our government. The American public has finally gotten it and they are not about to change their minds by seeing the Republics do more of the same that got us into this mess in the first place.
April 21st, 2007 at 1:15 pmWhile this is a solid bill in theory, it doesn’t really change anything as shareholders already have all the say. Shareholders right now are resonsible for voting on the BOD which are the folks in charge of paying CEO’s. Furthermore, shareholders always have the right to sell their shares if they are dissatisfied with performance or a company that wastes its money allowing saleries for its workforce that are too high. This is the primary reason companies work hard and focus on saleries. They make sure they provide their workers with just enough money and benefits to keep them working and no more as the market will crush any company throwing excess money away.
April 21st, 2007 at 7:11 pmA major blow struck for…
…the little people…
…good for you Rep. Frank…
April 21st, 2007 at 11:26 pmJesus H Christ saving all the believers isn’t worth a 100+ million a year. Sadly he’d be unemployed, as no Christians I know follow his teachings.
Comment by Happy420 — April 20, 2007 @ 11:02 pm
If they aren’t following His teachings, they aren’t Christians. Anyone can claim to be a Christian. Find those following His teachings and you’ll find true Christians. And, yes, if you want to find them, you will. If you don’t want to you won’t.
“Scott, no one is taking advantage of anyone. Motions to recommit are not inherently wrong — they’re wrong when they’re introduced abruptly (minutes before the vote, in this case) and when they are used simply as an effort to kill legislation that already has majority support. Motions to commit can be justified and supported in some cases, but not in this one.”
Comment by Nico — April 20, 2007 @ 11:05 pm
Neither party has a lock on using “motions to recommit” to either kill legislation or to assure passage of pork.
April 22nd, 2007 at 5:48 amI hope this bill passes, even though, as stated in 28. stockholders already have the power to act through the board of directors. Most people have no involvement beyond buying and selling stock. Perhaps if this bill provides people an easy way notify the BOD that they oppose outrageous salaries for executives, something will change. But, most likely, nothing will until stockholders actually begin voting to effect change in the make-up of the BOD.