Yes. No difference between safety regulations and meaningless, protect-people-from-themselves, bread-and-circus commercial regulations. :rolleyes:

The only thing missing now would be bigger reimbursements for people with lower credit scores.

I like the reimbursements for the people of CA. It may bankrupt the whole State, but wealthy white folks will feel good about themselves. And then unfortunately move to another State and screw that one up as well. Exception being Dean Cain and Scott Baio, they are welcome in all common sense States.

how exactly did too much regulation cause the mortgage crisis of 2008-09? Please be specific

Think he's referring to the free cash and bailouts that screwed things up. Kind of like today's debacle. Remember back then $700 billion was an astronomical amount, now Joe ****es that in a morning.

Why would you ever apologize to pax? Instead, tell them they should send their frustrations to your airline’s social media pages and the direct emails of your Board of Directors. Have them CC the various clickbait faux-outrage “news” sources while you’re at it.

Google the Community Reinvestment Act. That will be as specific or as general as you like.

hmmm, after very basic research it shows that only 6 % of the loans fall into that category, i am happy to link the articles.

Just be careful of mindlessly falling into political traps.

try a more “extensive” search and you will find what you’re looking for….

Hubcapped once again showing he doesn't have a clue about what he's talking about.

if only 6% of the loans that qualified under the cri are involved in the mortgage crisis, how is that the lead cause?

wow sir, such allegations, who are you again?
I must owe you money for living in your head. Wait a second, ill get my checkbook

Mark to Market

Liar Loans

yes i agree, both were not regulated enough right before the crash

Europe has had a form of this for almost 20 years. It didn’t kill the airlines or passenger demand due to higher prices.

Ask the passengers if they'd rather have the flight cancelled and get rescheduled or if they'd rather be trapped on a plane with limited AC, no food, no drinks and full laws for 8 hours, when each scenario puts them at their destination about the same time. I'm sure they'd rather be in the terminal rebooking a flight.

My favorite: NINJA loans. (No Income, No Job, No assets).

Plenty of fraud by banks and investment houses though, large and small. The Community Reinvestment Act wasn't great, was a problem, but if anything it was just the straw that broke the camel's back.

The real problem: Corporate officers are no longer held criminally liable for corporate malfeasance. The haven't been since the Enron debacle which tanked not just Enron but the accounting firm Arthur Anderson which led to tens of thousands of job losses.

Matt Taibbi wrote a great book about this. "The Divide: American Injustice in the Age of the Wealth Gap".

Highly recommended.

A ton of the $700 billion went to executive bonuses. Not only is there no accountability, but they also get a reward. Kind of like my airlines CEO and upper management. They met reduced goals on a made-up score card, and gave themselves bonuses for pretty much screwing up every decision over the last 3 yrs.

Regarding the 2008/2009 financial crisis and the role of regulation.
In 1932 the USA embarked on a major paradigm shift in its relationship between the Federal Govt and many facets of American life, including banking. I don't remember the blow-by-blow details, but by WW2 there were significant restrictions in place on what banks could and couldn't do. What liquidity they had to have on hand, etc. While various details were constantly adjusted, the fundamental framework of conservative limits on what banks could do kept the economy free of crisis until the 1980's. There were zero panics for almost 50 years.

The 80's brought in the second paradigm shift of the 20th century. The regulations that had made banking the staid, boring, but stable institution it was, started to be repealed.
America had had zero bank crisis since the mid thirties. They have become so frequent since 1980 that most who visit this board assume it to be normal. It is almost a certainty that a major factor in the change to financial stability has been the major undoing of the safeguards put into place in the 1930's.

Those changes (which I am too lazy to research, my generality's will have to suffice) are the structural shifts that lead to the 2008/2009 cockup. The various other stuff that is hyped is just adjusting the size of the barn door after all the horses have escaped.
The real problem is we, as a society, got lazy and greedy. If the market is infallible, then we need do nothing but just drift along. If the market is infallible, then any profits earned by individuals or corporate entities are morally justified. There is no need to protect the economy as a whole (and by extension the 'weak '). Any redistribution of wealth is 'mete, right, and salutary'.

In discussing complex systems we tend to lose ourselves discussing details. Finding major leverage points that changed our ways of thinking and what we expect of our institutions are what matter. Those leverage points change our destination(s). The details just affect ride and fuel burn.

Regarding the threads original topic. The proposed regs might help with the details of flight disruptions. A better approach would be to find some of the root causes for the meltdowns. The downside of the finding of root causes probably would go back decades, and we might discover them to be now "baked into the pie".

Thanks for the book tip.

It's not just corporate...when is the last time you've heard of a govt official (bureaucrat) being held accountable for incompetence or malfeasance? Other than the occasional political hack that gets forced out, most just retire to obscurity.

I'm not so naïve to believe that power will hold itself accountable, unless it's of the internecine maneuvering variety. It's a big club, and we ain't in it.

Fauci conveniently "retired" just as the House switched ownership. Weird.......

Weird, you can't spell F.A.U.C.I in a post without moderation approval.

One way some airlines have found around this "cancellation" penalty is to delay the flight long enough to send the crew to the hotel for a legal rest, and then operate the same flight number, even if delayed twenty four or even forty eight hours. The airline that I was working for that did this did it because the crews would have been able to walk off with pay if the flight was cancelled, but not for a delay.

Who among us hasn't gone to Orlando in the name of equity?

I occasionally go there to replenish my Harley-Davidson tank-top collection and to partake of the many flip-flop dealers along International Drive.

EU261 was put in place with all the objections many have posted here. The only result was much better customer service for airline passengers in Europe. The good airlines already essentially comply with the new proposal. The bad airlines will up their game or go away.

its almost like people just want to have knee jerk reactions that align with their political tribe. There is always a middle ground. You cant be wrong/right on every issue.

Just like during Covid, right? You all took the money then.
fbh

Yeah, we had a day in that. Most went into mgmt pockets.

Europe also isn't filled with some of the most entitled and low class people on the planet. Compare the average american air traveler to those from the rest of the world.

Funny, I never saw a dime of free money. Ironically, I still only got paid the hours I worked. Also I never asked for the airline industry to be shut down in the name of flattening the curve. How did that idea work out. Turns out we could have just carried on business as usual with the same outcome. (still waiting for the super spreader event from airline travel. Someone let me know when they see it.) I'm also curious if these masked passengers wear a mask in a mall at home? Or is it just an "airport dangerous" thought process? Atleast it's easy to tell who is mentally unstable these days.

Who would have thought the reaction to Covid would destroy the fabric of the Country. I take that back.... I saw it coming.