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URL:  https://boards.fool.com/ltltif-government-takes-responsibility-for-34157692.aspx

Subject:  Re: Boeing and self-certification Date:  3/15/2019  6:20 AM
Author:  SeattlePioneer Number:  555005 of 585194

<<If government takes responsibility for their safety, then government is responsible.

That's not how it works. Boeing is the one being blamed for this disaster - and it was always clear that this would happen.
>>



Firstly, no one really knows what happened or who is responsible. What we have at present is a media rush to judgement, lynching whatever target for their ire that appears to be handy.


However, if Boeing is responsible, I'm sure there will be doens of plaintiff's lawyers standing in line to pin blame on them and collect fat settlements.

But if GOVERNMENT had made itself responsible for flight safety, things would be a lot more muddled, because government and politicians certainly don't want to be held accountable, even if they have made themselves accountable through a regulatory scheme.

Exxon paid out billions of dollars in claims for the Exxon Valdez sinking, plus it lost a valuable cargo. BP paid out billions in claims for their oil well blowout in the Caribbean, plus they lost valuable production. Those episodes occurred despite elaborate webs of government regulation which prioved to be ineffective in preventing damaging episodes.

But the companies paid, and paid big time for the damages they caused. I suspect that's a more powerful incentive for good management than the usually frail reed of government regulation.


Seattle Pioneer
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