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From the staff of the Tampa Bay Times

Jeb on the threat to capitalism

If Jeb Bush has no interest in seeking office again, why is he chatting with Fortune magazine about excessive executive compensation? Hmmmm. Here's an excerpt:

"Florida governor Jeb Bush - a pro-market conservative - is even more blunt. Out-of-control compensation, he believes, is "a threat to capitalism."

Says Bush: "Large rewards for great results can still be attacked, but they're very defensible. But if the rewards for CEOs and their teams become extraordinarily high with no link to performance - and shareholders are left holding the bag - then it undermines people's confidence in capitalism itself."

The governor, whose $120 billion Florida pension fund is the fifth-largest in the country, is hardly the only appalled "owner." Some 90% of institutional investors think top execs are "dramatically" overpaid, according to a Watson Wyatt survey last fall."

[Last modified: Wednesday, September 15, 2010 3:06pm]


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