The world of CEOs and boards has become an entitled insiders’club—virtually free of accountability—and the abject failure of our corporate leaders to police themselves is costing Americans trillions and seriously undermining the strength of our economy.

Whereas boards are supposed to act as watchdogs,guarding shareholders’interests,they have become enabling lapdogs to CEOs,who are aided and abetted in their pursuit of outrageous pay and unfettered power by a bevy of supporting players,including compensation consultants who justify exorbitant pay packages and accountants and attorneys who see no evil.