It is the state of America. It seems to be how things are. When you fuck up fix the problem with another bigger problem.
Unfortunately this is how the world works. Taxpayers bailed out the CEO's to keep them solvent in 2008. Ten TRILLION of debt later here we sit with anemic growth. FED running up an epic disaster and nobody wants to face it. Taxpayers, they still get bent over today. Privatizing profits and socializing losses are how they do it in America today. Just ask any NFL, NBA, NHL or MLB owner who needs a new facility.
Here, United Airlines will pay a massive legal bill for the lawyers and a dandy fee to the passenger they dragged out of that jet. But who pays the bill? Future passengers with higher fares.
The real problem isn't just the overbooking. No, the real problem is dragging paying passengers off aircraft for United Airlines employees to travel to work.
Those of us in the financial markets deal with it daily. JP Morgan selling silver it doesn't own. Goldman Sachs shorting "naked" shares. Precious metal ETF's rehypothecating a thousand fold.
IPO trading abused with falsified green shoe stock. NSCC management shirking their congressional mandates to look after the financial results of their bosses. On and on and on.
It just doesn't end in the world of Wall Street.
Remember, Wall Street dislikes cell phone camera's.
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