Actually, when the Colgan F/O retracted the flaps during the stall, without confirming it with the Captain, their fate was sealed. I'd say the low time F/O had a lot to do with the outcome of that flight.
That said, congress did the right thing. They didn't however, do it the right way. They should have consulted industry before issuing an NPRM, never mind passing it into law. So now we're stuck with it. (Personally, I doubt it will be repealed)
As a pilot, I know something had to be done to stop the madness in the regional airline world. Ridiculous salaries, benefits (if you can even use that term) and working conditions were out of control.
As these airlines fell victim to their mainline owners chapter 11 filings, the weaker ones have merged, shut down, failed or signed new agreements.
Today, an ATP with a 1500 hour requirement should benefit the 121 world but is likely going to cripple the regional airlines as the mainlines recruit from their number. The USAF isn't going to provide the numbers needed.
So, it's all good.
Eagle shuts down. American has to find another regional to haul their regional traffic and that isn't going to be easy. Upward pressure on salaries, benefits and working conditions will surely result...
But only if pilots take advantage of this opportunity and provide some push back like the pilots at American Eagle.
What was that famous line in that 80s movie?
"I'm fed up and I'm not going to take it anymore"
Let's see what the Regional Airline pilots do with opportunities like this. I hope they get it.
Willie