Aren’t PNAS ”contributed papers” a huge conflict of interest?

I have been wondered for long time the publishing policy of PNAS related to ”contributed papers” of NAS members.

Any member can find two reviewers at discretion, organize the review process, submit a paper and be editor of the same paper, isn`t that strange? 

Now, this is not necessarily a complain, rather a statement of ”what is done and not explicitly mentioned” (or known) and targeted as ”bad” from other journals.

Any comment is very welcome.  

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