Robert Crandall calls government ignorant

Crandall knows an awful lot about the airline industry, but he doesn't know #### about antitrust law, and it shows. He demonstrated it a long time ago when he called Putnam.

The Clayton Act doesn't contain exceptions permitting unlimited consolidation in "unique" industries where the industry desires "long-term stability." The airline industry's history of huge losses and the possibility of ruinous losses in the future are irrelevant in this case.

As I said - Crandall is an airline expert. When the subject turns to the Clayton Act, he's no different than any other ignorant old man. Doesn't matter that he may be entirely correct about AA's future if the merger is off.
 
Crandall knows an awful lot about the airline industry, but he doesn't know #### about antitrust law, and it shows. He demonstrated it a long time ago when he called Putnam.

The Clayton Act doesn't contain exceptions permitting unlimited consolidation in "unique" industries where the industry desires "long-term stability." The airline industry's history of huge losses and the possibility of ruinous losses in the future are irrelevant in this case.

As I said - Crandall is an airline expert. When the subject turns to the Clayton Act, he's no different than any other ignorant old man. Doesn't matter that he may be entirely correct about AA's future if the merger is off.


Maybe, but he was smart enough to predict this mess:


You #### academic eggheads! You don't know ####. You can't deregulate this industry. You're going to wreck it. You don't know a goddamn thing!
— Robert L. Crandall, CEO American Airlines, addressing a Senate lawyer prior to airline deregulation, 1977.


B) xUT
 

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