A recent AFSCME investigative report shows that mutual funds rubber stamp excessive levels of CEO pay. The fact is that for years mutual funds boards have been run by insiders who are more in tune with generating expensive fees that enrich management or cozying up to companies in order to sell them lucrative pension products. So these mutual funds don’t challenge CEO pay because they don’t want to alienate a business opportunity -- no matter what it costs their shareholders.

Act now and send a letter to SEC Chairman Christopher Cox. Tell him to support an independent chairperson on mutual fund boards.