LETTERS
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Re: Kathy Kristof’s Personal Finance column, “Limiting exec pay may be needed to save capitalism,” March 29:
Kristof contends that limiting executive pay “voluntarily or not” is needed to save capitalism.
But the point of destructive capitalism is that when any company fails to do a good job, it will eventually fail. Maybe not today, but it will fail. If its service or product was valuable, another company will rise up to fill the need.
If boards of directors improperly compensate executives, she is correct in saying that the worker bees will eventually react poorly and -- voila -- the executive will leave or the business will fail, or both.
Destructive capitalism is not an overnight correcting system. Let’s not panic or we will legislate in haste, only to repent at leisure.
Forrest Bonner
Huntington Beach
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