Personal history: Why CEO pay exploded

It happened one day in a White House meeting

“Grandpa, why did top executives began to get so rich in the Clinton administration when you were in the cabinet?”

“For many reasons, sweetie. One of the most important was that most of their pay started to be linked to the price of their company’s shares of stock.”

“But grandpa, didn’t this encourage executives to do all sorts of bad things to increase t…