Thursday, September 18, 2008
Here we go again.
House Panel Investigates Eclipse Certification
” A congressional committee on Wednesday heard a litany of concerns about the FAA's oversight of the certification of the Eclipse very light jet, including a report that the FAA okayed the jet for a single pilot even though the FAA's Flight Standardization Board had determined that the aircraft required a two-pilot crew. The House Aviation Subcommittee heard from Calvin Scovel, the Inspector General for the Transportation Department, who said his investigation showed that FAA employees were given "marching orders" by management and a target date was set for the jet's certification. "It was a calendar-driven process ... with a predetermined outcome," he said.“
Honestly, it’s hard to even work up the effort to read through another blunder by the FAA...until you realize that it is this very same malfeasance -- lack of oversight and regulation -- that has led to the financial world unraveling.
Fed Offers $180 Billion for Ailing Money Markets
” Reflecting concerns about the health of the global financial system, the Federal Reserve and the world’s other major central banks significantly escalated their assistance to global markets on Thursday, making almost $200 billion available after bank lending came to a near halt and threatened the global economy. “
September 18, 2008