Who's Messing with YOUR Money? CEO pay E action

[Omaha Steve]

Chances are you’ve got savings or a 401(k) invested in a mutual fund or two. For years, mutual fund boards have been run by insiders who are more interested in generating expensive fees and cozying up to companies that buy their lucrative pension products than in protecting your money.

A recent investigative report shows that mutual funds rubber stamp excessive CEO pay. Their boards don’t challenge CEO pay because they don’t want to alienate a business opportunity—no matter what it costs their shareholders.

Now the Securities and Exchange Commission (SEC) is considering rules requiring mutual funds to have independent chairs and boards. For the sake of your savings, please take a minute now to urge SEC Chairman Christopher Cox to support an independent chairperson and independent directors on mutual fund boards.

Click here now to take action. http://www.unionvoice.org/campaign/protectmutualfunds/8b3n3dz07wkjxn?

We know we can improve corporate governance by making our voices heard by the SEC. Last month we won new SEC rules requiring corporations to clearly disclose CEO pay packages—revealing a single, catch-all number, including CEO golden retirements, perks and stock options. You sent more than 23,000 messages to the SEC, a huge part of the record number of comments on that SEC rule. You can do it again.

Take action now!

Mutual funds are becoming the most important savings vehicle for tens of millions of working families. Our retirement security is in the hands of fund directors who may be more concerned about their fees and corporate relationships. We don’t have to have foxes guarding the henhouses of our savings. The SEC can protect us by requiring mutual funds to be led by an independent chairperson on a board with at least 75 percent of its directors considered independent.

To make your voice heard by the SEC, you must send your message to Chairman Cox soon. The deadline for comments on this important rule is Aug. 21. Please don’t wait another day to urge the SEC to require independent chairs and boards for mutual funds.

Click here now to take action.

With Social Security and employee pensions under attack, we need all the retirement security we can get. Tell SEC Chairman Christopher Cox to protect our savings in mutual funds.

Thanks for taking action for working families—and for your savings.

In solidarity,

Working Families e-Activist Network, AFL-CIO

[whistle]

1. Under BushCo policies these are all up for grabs by the looters...

...and parasites.