No it's not. Providing golden parachutes to select executives while defaulting on contractual obligations isn't capitalism. Perhaps the solution would be to adequately fund the obligations at the time they're incurred, rather than creating a long-term debt load that will be placed against future earnings in order to create an artificial appearance of fiscal health.
There is a pretty big contingent on FR that believes scr*wing everyone who's stupid enough to have contact with you is capitalism.
Providing golden parachutes to select executives while defaulting on contractual obligations isn't capitalism. Precisely. If a CEO can make money while keeping the company's end of its contracts, he deserves whatever the board gives him. Violate that stipulation, and he's just another grifter.