retired Bank of America chieftain loses his private jet

Yesterday it was announced that Bank of America director Chad Gifford will no longer be able to ride the company’s private jet for free. What is it about corporate fat cats that makes them worthy of private jets in the first place? It is all part of the fiction of their indispensability. They all serve on each other's boards of directors so they vote these perks for each other. Then they collectively spin the story that their perks are a response to market forces. Give me a break! Given their performance over the last few years, the leaders of the big banks have proven that ANYONE can do their job. And as for market forces, I don't see any international banks clamoring for the services of these corporate "stars". The time has come to reign in these foolish pay packages, and distribute the money to the investors and the work force.