Appearing in New York on Wednesday primarily to tout the healthy state of the economy, President Bush called on boards of directors to curb excessive executive pay and bring greater value to shareholders, the Associated Press reports. The president made his remarks outside the New York Stock Exchange, standing at Federal Hall.

Bush said news reports of excessive salaries create anger and uncertainty among investors.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.