Fortunately the Framers required that the president submit all significant international agreements to the Senate, which must consent to the treaty with the same supermajority needed to send a constitutional amendment to the states or to override an executive veto.

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According to German law, however, they can in theory veto executive-committee decisions.

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Shareholders will be able to veto executive remuneration, golden handshakes and parachutes will be banned, directors will have to re-elected every year and anyone who breaks the rules may go to prison.

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After a six month standoff, Shell backed down, demonstrating that non-traditional corporate stakeholders were gaining influence and could even veto power over executive decisions.

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In the original setup, the idea was to have balance between executive and legislative branches- thus vetos and veto-overrides.

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As for delegation, Dennis today runs none of his companies, having appointed himself chairman with veto power over such decisions as board appointments, executive salaries and acquisitions.

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Senator McCain also promises to use the power of veto in defence of the public interest - and as a chief executive, I can assure you it works.

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