US government seeks to rein in executive pay

Democrats want to push administration on US corporate pay strategies

WASHINGTON (AP) - The Obama administration is taking a half-step toward taming U.S. executive pay. Some lawmakers prefer a fuller stride.

Democrats on the House Financial Services Committee said Thursday the administration's efforts to hector the private sector into reining in executive pay might not go far enough.

The administration contends that excessive compensation contributed to the U.S. financial crisis, but rejects direct intervention in corporate pay decisions.

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