Graef Crystal on Pay to Directors

“Pay to U.S. Directors Reveals Back-Scratching“: an op-ed by Graef Crystal for Bloomberg.com. Mr. Crystal makes a very interesting statement: “There would be nothing wrong, and a lot right, with the idea of requiring that shareholders approve the pay of the outside directors, after being provided a reasoned justification by the directors themselves. That would remove a significant conflict of interest in which every board finds itself these days.”