Matt Stoller has an excellent takedown of the WSJ article that blames the Biden Administration for Spirit Airlines filing for bankruptcy. Specifically calling out the $3.8 million dollar retention bonus for CEO Ted Christie that was paid the week before the bankruptcy filing.

The CEO of Spirit Airlines, Ted Christie, a man who presided over the insolvency of the firm, was paid a $3.8 million retention bonus the week before the bankruptcy filing. The reason such a fact matters isn’t just because it’s outrageous, it’s because it’s one more bad decision by a bad management team that is blaming the government for their own choices.

He talks more about the greed surrounding the failed merger with Jet Blue and the general state of the deregulated airline industry and how it leads to bankruptcy, bad competition and ultimately higher prices for consumers.

That’s what Matt talks about, big corporations and monopoly power, he even has a book on it called Goliath (Bookshop.org, Amazon).