I am ignorant on the specifics but I have to believe that any attempt to limit stockholders rights is not a good thing.
Chris Cox should be ashamed.
The world has gone nuts.
It's hard to believe, but Republicans continue to do their damnedest to live up to every crappy stereotype that Democrats try to hang around their necks come campaign seasons. It's as if the Republican SEC members were overheard whispering to each other:
"Yeah, let's further limit the ability of mom-and-pop public company shareholders to influence the make-up of boards of directors! These folks are clueless as regards corporate governance and they should just keep their yaps shut and let the professional board memberssteal their millions in peaceEnronize the companies without impedimentrun the companies as they see fit."
Who will be the next SEC member to be rewarded with a highly remunerative sinecure on Wall Street? We'll hear soon enough, I expect.