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ETF News

FACTBOX: Presidential candidates on CEO pay

(Reuters) - Amid fears the U.S. economy may be in recession, many voters are expressing outrage over big pay packages given to executives of some of the companies at the center of the financial and mortgage crises.

Following are the positions of the U.S. presidential candidates on executive pay:

ILLINOIS DEMOCRATIC SEN. BARACK OBAMA

Obama introduced legislation in April 2007 that would allow shareholders of a company to cast a nonbinding annual vote on the pay of top executives. A similar bill passed the U.S. House of Representatives last year, but Obama’s bill has made little headway in the Senate.

NEW YORK DEMOCRATIC SEN. HILLARY CLINTON

Clinton has spoken out against hefty chief executive officer pay and supports the approach taken by Obama’s bill, though she has not signed on as a co-sponsor.

ARIZONA REPUBLICAN SEN. JOHN MCCAIN

McCain has called the compensation of leaders at Bear Stearns Cos Inc. and Countrywide Financial Corp. outrageous and unconscionable, but has not offered specific proposals to rein it in.

McCain would like to see shareholders and corporate boards take the initiative to ensure that pay packages are reasonable, according to an aide.

Reporting by Andrew Sullivan; Editing by Doina Chiacu

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