America Feels Effects of Naked Greed
By: Arnaud de Borchgrave
Predatory lending in the housing market with two sets of books coupled with oil speculators who buy black gold by the hundreds of thousands of barrels a day and sit on it until they've made a pile (minimum buy on the Rotterdam spot market is 1,000 barrels), and many other sleights of hand are forcing America's Airlines, once the envy of the world, to look at Chapters 7, 11 or 12 of bankruptcy laws.
Casualties are mounting as airlines face fuel bills $89 billion larger than last year. Airlines reckon they may lose $40 billion this year, thrice the deficit recorded after the Sept. 11, 2001, terrorist attacks. MORE
