Thursday, 22 April 2010


Willie Walsh of British Airways, and other airlines, are demanding compensation from the Government for the losses they have suffered as a result of the closure of European airspace. By 'the Government' they mean, of course, the taxpayer. Sorry chums but we haven't got the money, or hadn't you noticed the three hundred gazillion budget deficit? Besides, don't the airlines have insurance? Whatever - I find it ironic when the 'Captains of Industry' seek a socialist solution to a capitalist problem so here's my proposal:
Goldman Sachs and Morgan Stanley have reported massive profits for the first quarter of 2010 of $3.46 billion and $1.41 billion respectively. What the rest of us call pay and bonuses, these organisations choose to call 'compensation packages' - 43% and 49% of revenue respectively. A tidy sum - $5.5 billion for Goldman Sachs and $4.1 billion for Morgan Stanley. So what I reckoned was, these bastards get all this money by screwing the rest of us via their weird and wonderful finincial derivatives, mortgages and currency speculation so why not divert some of their 'compensation' to the airlines? Cut out the middleman; neat redistribution of wealth in a nutshell.

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