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.
Warren BuffettNever do anything in life if you would be ashamed of seeing it printed on the front page of your hometown newspaper for your friends and family to see.
Warren BuffettI would say the biggest single cause was we had an incredible residential real estate bubble.
Warren Buffett