April 10, 2008
Pro Forma
Another day, another market failure:
As for the FAA-AMR debacle, let's keep some hasty stitches in mind:(a) This is not a case of "fixing faulty wiring" on hundreds of "unsafe" planes. American insists (and there is no reason to doubt them) that there is no cognizable safety risk whatsoever. The company is merely capitulating to FAA (and media) paranoia in the wake of a scandal at the bureaucracy itself, catalyzed by a notoriously activist politician, Representative Jim Oberstar, seeking gratuitous headlines to look impressive to his ignoranti constituents.
(b) Speaking of which, the last time I checked the FAA was the government. To call this national headache a "market failure" due to "greedy capitalists" is the height of self-delusional policy hysteria.
It's likely that as I write this tens of thousands are cursing American Airlines. Probably only a small fraction of them know who Oberstar is.
Posted by Walter at April 10, 2008 10:01 PM | TrackBackI know who that son of bitch is Walter. He is a Farm and Labor Democrat, a "Progressive", a Socialist, an anti-Free Market...a guy who wants to regulate every possible inch of daily life.
A, do I say... a FASCIST!!!!.
He and his other cronies got together with Hubert Humphrey and decided that the Democratic Party wasn't Left enough, back when Eugene McCarthey was trying to turn us into a rotten version of "A Brave New World" by Huxley.
Man you got me all worked up...
How that guy is still in office is beyond me, but right up to speed for Minnesota.