What follows is typical Munger from what I know of Charlie Munger. It's excerpted from an Los Angeles Times interview.
What is the solution (to executive over-compensation)?
The reason this has grown to such an extreme degree is that it is so hard to do
something about it. It's like autocatalysis in chemistry — it's a reaction that
just feeds on itself and keeps ballooning and ballooning.
If more executive compensation issues required shareholder approval, I think
that might dampen some of the excess. That has been suggested, and there is a
lot of discussion around that subject. But there are also a lot of malcontented
nuts in the world, and you wouldn't want the malcontents to get too much power.
I don't know. Just because something is a serious problem doesn't mean that you
can fix it. There's an element of tragedy in this because some very good people
are acting in some very bad ways.
But things are seldom so bad that you couldn't make them worse by a dumb
If you're not familiar with Charlie Munger, it's almost as if everybody else in the world has been forced to watch Robot Chicken reruns while he has availed himself of every library in the world and thought about what he read as our brains melted out our ears.
Whatever, Robot Chicken has made me so much more smarter than Munger will ever get from having had readed so many books.
-- David W
If you had said 'Aqua Teen Hunger Force', I would have believed you. Robot Chicken is a lot of fun to watch, but it's basically 80's pop culture "meat" with Hamburger Deathmatch Helper as cooked by the concerned son of Jeffrey Dahmer and Julia Child.