How stupid do they think we are? (Executive Compensation edition)

Seriously, can’t Obama even pretend he intends to meaningfully reform corporate governance?  If not, why does he insult our intelligence? (h/t Americablog)

The president specifically mentioned regulatory changes that would require shareholders to have nonbinding votes on executive compensation packages (emphasis added)

This is similar to the plan to create create standardized credit default swaps (CDSs) which can trade on open markets, but not require firms to actually use them, and still allow custom CDSs.

I’d say that Obama and his financial advisors still think that if they just ask banks and brokers nicely, they’ll do the right thing, but that would insult the administration’s intelligence as well as mine and yours.