The House Financial Services Committee has scheduled a hearing on executive compensation for March 8, 2007. U.S. Rep. Barney Frank, D-Mass., organized the hearing, which will focus on legislation designed to give shareholders more power in setting executives' compensation. Political pressure to increase oversight in Corporate America hit a high recently after shareholder outrage against Home Depot and Pfizer CEOs combined with President Bush's speech earlier this month demanding that companies tie pay to results. Notably, however, Bush stopped short of calling for either new federal rules or fresh congressional action; but, Barney Frank said he plans to go ahead with his plans to move legislation that would greatly expand shareholder powers in the Board room. On the topic, he said, "I agree with President Bush that excessive executive compensation has become a problem, but disagree with his view that we should do nothing about it." No witnesses have been listed yet; however, the hearing is scheduled for March 8th of this year.