Aug 14, 2015
the staff of the Ridegwood blog
WASHINGTON, D.C. – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement after the SEC announced a finalized pay ratio rule as required by Dodd-Frank:
“The pay ratio rule will do nothing to provide useful information to investors, improve our economy, or help struggling Americans find a job. What it will do is impose substantial costs upon American businesses and their shareholders, and make our capital markets less attractive for growing companies. We need to work to grow our economy and expand opportunity for all Americans—not create new red tape and regulations that do nothing to achieve those goal.
Garret also offered a special thanks to Ciaran, Jonathan, Michael, Allison, Catherine, Joe, and Kayla,all interns from his Washington, D.C. office, Garret said “for all of your hard work this summer! You did a great job, and I hope you learned a lot during your time on Capitol Hill.”
The government has no place in regulating salaries.
Figure out how to grow the economy and stop playing Robbin Hood.