You are only giving 1/4 of the correct line of events. ASAP isn't meant to save your job if you screw up.

The captain was fired because he almost ran a jet through Shea Stadium. He had a problem flying the airplane, which he had a bad history of performing this maneuver. It came back to bite him.

The f/o was punished because, after the incident, he didn't say anything. They continued to fly for several legs before he spoke up to anyone. It was the flight attendant that made the first contact with the company. The f/o was later reinstated with full pay afterward.

The pilots were not punished because the company read their ASAP, they were punished for seperate reasons, neither of which having to do with ASAP.

And yes, that account was told to me by one of our union leaders who had quite a hand in the ASAP pullout. ASAP is on its way back though, so be patient.