CEO Pay and the SEC: The Power of Shame

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Published in Business Week February 25, 2010 By Patrick McGurn

Many people can recite the first half of Louis D. Brandeis’ quote about the cleansing qualities of disclosure—”Sunlight is said to be the best of disinfectants….” Few bother with the rest of the sentence, in which Brandeis calls “electric light the most efficient policeman.” To her credit, Securities & Exchange Commission Chairman Mary Schapiro seems to have both sides committed to memory.

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