Wednesday, April 02, 2003
Speculators: Now that the aid package to the airlines has sunk in, their stocks rally. Right. Now American Airlines is a good investment. Riiiiight. As I alluded to earlier, this money will be gone before it arrives. Tom DeLay is quick to point out that this is "not a bailout." Tom is right. A "bailout" occurs when you manage to stop the ship from sinking. What this measure did was slow the sink by throwing off the lifeboats. Oh, and the linked piece also mentions how the executives are tripping over themselves to hand out bonus pay because they managed to "outperform" the industry. This is like saying I should be rewarded for committing slightly less malpractice than the bar as a whole. You have to love D.C. logic. Now I just have to figure out how to get me some of the handout.
Posted by Razor at 3:24:00 PM