footnote: for certain values of "moral"
(you are right though, the term "moral hazard" is surprisingly well defined and basically has nothing to do at all with the sum of its parts)
In that case, having parachutes for the execs is a moral hazard.
Yeah, but that's a problem for the owners. Who are big boys, and can figure this conflict of interest out without us.
Or if they want to keep pissing away their money, they can keep hiring clowns that ruin their company, and then pull the ripcord.
They don't, and they aren't. They work for, and answer to the owners.