House Proceeding 07-31-09 on Jul 31st, 2009 :: 0:05:30 to 0:07:05
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0:05:26 to 0:05:48( Edit History Discussion )

Pete Sessions: it will not send the bill back to committee to fix its current lack of transparency but allows it to be done right here, right now. i encourage my colleagues to support this common sense for shareholders who some outs influence their vote. i yield back the balance my time.

0:05:30 to 0:07:05( Edit History Discussion )
Speech By: Barney Frank

0:05:49 to 0:06:10( Edit History Discussion )

Barney Frank: what purpose does the gentleman from massachusetts rise? mr. frank: to oppose the motion. the speaker pro tempore: the gentleman is recognized for five minutes. mr. frank: that speech would have been impressive, i might have disagreed with it, if it applied to all shareholder votes. th out the say on pay. if you want to influence pay, you have to report everything.

0:06:11 to 0:06:32( Edit History Discussion )

Barney Frank: if you want to vote on a merger or acquisition or anything else, you don't have to do it. it's not a uniform requirement of a disclosure. it burdens the say on pay vote and leaves every other vote in the dark, if that's so important, why did we not have a broader version of it? it also is quite burdensome. you

0:06:33 to 0:06:53( Edit History Discussion )

Barney Frank: you want to spend money -- the speaker pro tempore: the gentleman's correct. the gentleman from massachusetts deserves to be heard. mr. frank: if you want to spend money to oppose large bonuses, to oppose large salary, to oppose a company paying 7 % of its revenue, as recently happened in compensation.

0:06:54 to 0:07:05( Edit History Discussion )

Barney Frank: if you are a pension fund, if you are a union, if you want to write to your own members and say, this is a bad idea if you hold shares, vote no, you have to give the identify of --