Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay. The upshot is that a mediocre-or-worse CEO - aided by his handpicked VP of human relations and a consultant from the ever-accommodating firm of Ratchet, Ratchet and Bingo - all too often receives gobs of money from an ill-designed compensation arrangement.
We need to move beyond the demonisation of overpaid traders ... In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.
A person who is too nice an observer of the business of the crowd, like one who is too curious in observing the labor of bees, will often be stung for his curiosity.