To anyone who thinks that the airlines couldn't have seen this coming or avoided catastrophe without a bailout: 1. The airline industry has gotten so concentrated in the past couple of years that Buffett bought into it. Buffett doesn't buy businesses that can't generate returns.
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2. Credit was not only at historically cheap rates, but was extremely available 2 months ago. Airlines EASILY could've stockpiled cash for an "unforeseeable risk" 3. Speaking "unforeseeable risks", all of the following events happened in the past 20 years: A. 9/11 B. SARS
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Replying to @bjonathan
You were in Europe at that time. You get it. This whole "omg, we never could've seen something like this happening" thing is total bullshit. This happens more often than recessions do.
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Replying to @Molson_Hart
US Gov should become a shareholder of the airlines (and cruise lines)
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According to the plan they have through weird grants. They are owners in the business until the loans are repaid.
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