Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I have two very quick points. Firstly, we have significantly—not totally but significantly—dealt with the issue of reward for failure with our draft legislation publicly released on golden parachutes. Secondly, the cap in the United States, as I indicated, applies to financial institutions that have been bailed out. I would note that where that has happened, Senator Brown, there is no cap on the institutions or businesses that those capped financial institutions lend to in terms of executive pay.