This has nothing to do with any self interest. I've bought my farm remember and I'm out of the SM now short or long. I'm with the 200 US economists who signed this letter to Congress this week about the bailout:
You seem to have some common sense left.
Indeed, the US government is planning to solve the problem from the top down, instead of solving the problem from the bottom up.
If instead of bailing out the financial institutions, they support the people who are facing foreclosure by bailing out their loans by the amount their homes lost equity, everyone, including the fincancial institutions will benefit from it.
Personally, I don't think that the bail-out will do any better to the economy. Democrats in Congress know that very well but they have a candidate to be elected and they have certainly figured a way to win the election using the bail-out problem and to solve the economic problem as well.
To get back to aviation:
Alitalia is saved. 2100 pilot jobs are guarranteed.
It's not going to be that bad in Europe, don't worry too much.
In the U.S., as I said it will hit very hard.
As a matter of fact, I got a furloughed Continental pilot with me right now.