1 definition by Lou Daveeko
An obscenely brobdingnagian severance package to an incompetent corporate executive who has been dismissed due to an egregious act(s) of greed. Golden parachutes, often ranging in the billions of dollars, are given to CEOs who have eliminated/raided the employee pension fund, closed work places due to massive oversea outsourcing or wall st. bankers stealing the equity out of hard working Americans' homes, dealing a death blow to the American dream.
Politicians oppose any type of aid or break for Americans because their own golden parachutes insure that themselves and their family maintain a standard of living which few Americans can afford or will ever know for themselves.
by Lou Daveeko November 7, 2016