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After seeing the latest John McCain Video do you feel that deregulation is a good thing?

Watch the video. http://vodpod.com/watch/1061207-keating-... I worked for United Airlines for 35 years. During the last 15 years of my employment UAL threatened to send our jobs overseas. Deregulation gave them the power to do this. Because of that the unions countered with becoming an employee owned company. The ESOP (Employee Stock Ownership Program) provided that we take no raise in wages or benefits but accept stock instead. For twelve years the company would show more profits than any time in its history. After 911 however, things changed. United filed bankruptcy. United threatened us into retiring threatening that they planned to scrap our medical if we didn't retire by July 1st, 2003. As my wife is disabled we couldn't risk loosing the medical. After retirement, United through bankruptcy dumped our retirement on the Government. The PBGC or Pension Benefit Guarantee Corp, was set up to insure pensions in this country and make sure that profitable companies funded retirement plans. We found out that they failed to do that. While the Companies were making huge profits and giving out bonuses to management as well as stock options and golden parachutes, they failed to collect monies for the retirement. . This meant our retirement was cut by 20 percent I originally owner $374,000 in employee stock. The company bankrupted on that an paid me $1374.23. Shortly after coming out of Bankruptcy this is what showed up in the news paper. It is the same gread that you saw in the Lehman Brothers hearings in congress today. Here is what the DEREGULATED airline did to me. You can’t give corporate Execs unbridled Greed. CHICAGO (AP) ― United Airlines CEO Glenn Tilton could receive stock and options worth $15 million, base pay of more than $600,000 annually and a bonus that could double his salary when the carrier emerges from bankruptcy next month, according to company documents. Tilton would get 545,000 restricted shares and 822,000 options, or just more than 1 percent of the $1.9 billion in equity United intends to issue, if a bankruptcy judge approves. Overall, United plans to set aside 8 percent of the equity it plans to issue -- at a value of around $152 million -- for about 400 salaried and management employees. They should all go to Prison. Join us for real change.

Public Comments

1. OBAMA, BARNEY FRANK AND CHRIS DODD should go to jail for not favoring McCain's regulation of Fannie/Freddie legislation.
2. No. John McCain's answer to everything is less regulation. That's what allowed the Keating savings and loan fraud and that's what caused our current economic meltdown. John McCain is not the man to solve our economic problems.
3. You gotta find a healthy mix. You need enough regulation to ensure a fair playing field for companies...such that that big companies don't keep the small companies down by using unethical practices...but not so much regulation that everyone is bogged down by it and nothing can get done. With new technologies and ideas coming out all the time, regulation will always be needed, and deregulation will be needed if that initial regulation goes too far and bogs the system down.