A very good decision from what I can tell here. Now, there are obviously a few ways it could have been better ("special master" - really?) and from a purist POV the government obviously has no role in dictating to companies how they set up their committees (don't want shareholders voting on pay - well, then you'll just have to take the associated discount...) but considering where we're coming from (with more of the same but in the other direction), I think I actually prefer it this way. More power to shareholders usually isn't a bad thing. Sure, you could argue that shareholders already have some of that power by electing the BoD and there may be some disadvantages but seeing how institutional shareholders are so vastly more important than individuals, I don't see a huge downside to this.
Since the public now either owns these companies or should own them through having prevented them from going bankrupt, Obama has a hard neck not telling them to run things in the public interest. But as usual, the taxpayer takes all the risk for no reward.
There are two types of shares - the ones that give you voting power, and the ones that don't. Is Obama now saying that everyone that has shares can now vote? Shareholders pick a board of directors to handle stuff like this, usually.
Since he's destroyed the concept of preferred stockholders taking precedent over other's on debt/obligation repayment, it makes sense he would give those holders votes. That's what you do to poor people - you allow them to vote for you. Thus, Obama is giving them votes and making them poor at the same time.
I don't see how giving shareholders more power could possibly be a bad thing. Businesses, like government, should be as democratic as possible.
From the mistaken opinion that many cooks would not spoil the pot. Democracy ensures that the least common denominator governs, decrees. A fickle and shallow electorate vote for bread and circuses every time.
I know you're a foreigner, but do try to comprehend the language before you speak. If only for your sake.