Theoretically yes (from a coding perspective it makes little sense to prevent it), though I don't know if there is a rank vs ability (could a forum mod warn an admin sort of thing) there.
More generally it is not a problem -- generally if you are picking staff then you want to pick those that play well within the rules (even if bending is likely something they can do). Conduct against that (and even unbecoming) tends to get staff status revoked or even banned (should have known better an all that).
There have been staff banned before, however in all the instances I know (and I reckon it is all of them) then it was usually a "blaze of glory" (amount of glory typically zero) type scenario.
I’ve never seen it happen, but any “higher” staff can warn a “lower” staff. Aka Blue Mods can warn Reporters, but not Global Moderators. And unless you’re Costello or Shaun, the Supervisors are unwarnable.
no basically what chary is saying is that this is Costello's Show and we follow the rules not only to protect ourselves but primarily to protect Costello the one was allowing do gbatemp to be at the moment
with that said he can do what he pleases because any legal ramifications are his to bear