Bank bosses acting like pilots who have parachutes their passengers don't, regulator says

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Apra boss Wayne Byres says his proposals to reform executive pay ‘have undoubtedly caused a fair amount of angst’

The pay packets earned by banking bosses mean they are like airline pilots who have parachutes when their passengers do not, the head of the prudential regulator says.

 

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That’s because they know we’ll bail them out. Stop doing that and they might change for the better

Great analogy!

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