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Here are some proposals

  1. if any management employee of a public corporation is awarded compensation totaling more than $1M, that excess compensation can is subject to recovery over a 5 year period if the company suffers any reverses.
  2. any creditor of the company can recover losses from any participant in non-arms length decisions that have had a material effect on failure to pay over 15 years.  For example,if management decided to pay dividends and management was dominated by a PE firm that owned most shares and those dividends were funded by acquiring debt or taking working capital - those dividends could be recovered and criminal sanctions applied.
  3. Debts to pension funds and basic worker salaries are moved to top of bankruptcy priority.
by rootless2 on Mon Nov 14th, 2011 at 07:54:20 AM EST

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