Tarpaulin parachute

[Dave Paprocki]

A specific type of [golden parachute] which refers to executives who receive a disproportionately large reward, bonus or [bailout] despite being painfully incompetent at their job to tragic ends and use said reward in irresponsible ways.
This is most accurately directed at executives in the finance industry who received money from the [TARP] act intended to save the economy and, instead, used it irresponsibly.
In parts of the US, pronounced tar-POLE-ee-in bailout.