Scott Garrett: “the amendment before us, in fact, is intended to strengthen the bill and not, as the gentleman says, to gut the bill.…”

“the amendment before us, in fact, is intended to strengthen the bill and not, as the gentleman says, to gut the bill. How does it strengthen the bill? It does so by addressing the exact problem that the gentleman just set forth as what they were intending to do with the legislation in the first place. The gentleman, and also in committee, went on and all the testimony was about excessive compensation packages and how this is an egregious situation for this country and for the investors. I do not think we had one person who came before the committee, nor has anyone from the other side of the aisle made an example of saying that we should be doing something about fair compensation packages or compensation packages that only went up a small percentage. All the testimony, all the argument before, all the argument we have heard tonight is about excessive compensation packages, and that is what my amendment does. It says, look to, how do we focus this thing on really where the problem is, excessive compensation packages, and we do that by specifically delineating it, by saying that it is 10 percent or more of the above averages for the industry's norm. Secondly, the gentleman from the other side points out that the investor does not have any input. Of course, he does, and when the case is involving an excessive compensation package, then he will have the input to make his voice heard.”