Office of Inspector General 1500 Pennsylvania Avenue, N.W. Room 4436, Washington, DC 20220
The Honorable Timothy Geithner - Secretary
Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, D.C. 20220
SUBJ: SEC INVESTIGATION OF UNITED AIRLINES BANKRUPTCY IMPROPRIETIES
Dear Inspector General Thorson and Treasury Secretary Geithner,
On February 2, 2009, I wrote the attached letter to the Office of the Treasury Department Inspector General Thorson on behalf of the Whistleblowing United Pilots Association regarding voting irregularities in the second Airline Transportation Stabilization (ATSB) loan application filed by United Airlines prior to entering their post-9/11 Chapter 11 bankruptcy proceedings. To date, we have not received a timely response from this office.
In particular, request was made regarding clarification as to the reason then Treasury Undersecretary Brian Roseburo insubordinately voted against the wishes of his of his boss, then Treasury Secretary John Snow. This single vote forced United Airlines into bankruptcy wherein labor contracts were decimated and employee pensions terminated.
On November 3, 2009, SEC Inspector General H. David Kotz wrote me the attached letter advising that the Securities and Exchange Commission (SEC) had initiated an investigation into my 2007 Sarbanes-Oxley allegations filed with then SEC Commissioner Christopher Cox, which I have also enclosed for your review.
Request is hereby respectfully made that the information requested in the February 2, 2009 letter to the Office of the Inspector General be provided to me for attorney review, as well as the office of SEC Commissioner Mary Schapiro for inclusion in the current investigation underway.
Your timely cooperation and response is greatly appreciated by the many financially disenfranchised employees and retirees of United Airlines.
Encl: Letter dated February 2, 2009 to Treasury IG Eric Thorson
Letter dated November 3, 2009 from SEC IG H. David Kotz
Letter dated October 18, 2007 to SEC Commissioner Christopher Cox
Affidavit dated October 25, 2007 of Daniel W. Hanley
Cc: Senator Charles Grassley – Ranking Member, Senate Finance Committee
Senator Carl Levin – Chairman, Senate Permanent Subcommittee on Investigations
Senator Daniel Akaka – Chairman, Government Management, the Federal Workforce and DC
Senator Clair McCaskill
Congressman Henry Waxman – Chairman, Government Oversight Committee
Congressman George Miller – Chairman, House Health, Education, Labor, and Pension Committee
The Honorable H. David Kotz – Inspector General, Securities and Exchange Commission
Mary Shapiro – Chairman, Securities and Exchange Commission
Merri Jo Gillette – Regional Director, Chicago Securities and Exchange Commission
The Honorable Eric Holder – Attorney General of the United States
The Honorable Glenn Fine – Inspector General, Department of Justice
The Honorable Lanny Breuer – Assistant Attorney General, Criminal Division
Robert Mueller – Director, Federal Bureau of Investigation
Patrick Fitzgerald – District Attorney, Northern District of Illinois
Robert Grant – Special Agent-in-Charge, Chicago Federal Bureau of Investigation
The Honorable Calvin L. Scovel – Inspector General, Department of Transportation
The Honorable Ray LaHood – Secretary, Department of Transportation
Randy Babbitt – Administrator, Federal Aviation Administration
The Honorable Richard L. Skinner – Inspector General, Department of Homeland Security
The Honorable Gordon S. Heddell – Inspector General, Department of Labor
The Honorable Hilda Solis – Secretary of Labor
Ms. Rebecca Anne Batts – Inspector General, Pension Benefit Guarantee Corporation
Tom Devine – Legal Director, Government Accountability Project
Danielle Brian – Executive Director, Project on Government Oversight
David Colapinto – Attorney, National Whistleblower Center
Jeffrey Grass – Attorney
Member of the Whistleblowing Airline Employees Association
********************************
February 2, 2009
4204 Lakeside Way
Newnan, Georgia 30265
Eric Thorson – Inspector General
Department of Treasury
Office of Inspector General 1500 Pennsylvania Avenue, N.W. Room 4436, Washington, DC 20220
SUBJ:WHISTLEBLOWING UNITED PILOTS ASSOCIATION
Dear Mr. Thorson,
The Whistleblowing United Pilots Association is a national grassroots coalition comprised of employees and retirees from all airlines whose purpose is to help discover the truth regarding alleged white-collar criminality associated with post-9/11 airline bankruptcies and serve justice on the criminals who perpetrated these crimes.I serve as a public spokesperson for this group.
On February 14, 2008, a federal complaint was filed by me on behalf of the association with the office of the Federal Bureau of investigation in Chicago, which has been left open pending forthcoming additional evidence and witness testimony, which is why I write to you today.
As you know, the post-9/11 Airline Transportation Stabilization Act authorized the establishment of a $10-billion loan guarantee program designed to financially assist ailing airlines in the aftermath of that tragic event.Even after multi-billion dollar United Airlines employee concessions, the first application for said monies was denied by the three-voting member Airline Transportation Stabilization Board (ATSB).In their ruling, the board determined that concessions rendered were insufficient to risk the government backed loan, so United Airlines management returned to the bargaining table demanding additional employee concessions to preclude Chapter 11 bankruptcy or, even worse, Chapter 7 liquidation to which the employee groups conceded.
Upon second application, the three-man ATSB voting board members consisted of ATSB Chairman Eddie Gramlich, Treasury Secretary John Snow, and Transportation General Counsel Kirk Van Tine.It was stated in the media that Mr. Gramlich was predetermined to vote in the negative on the application, which left the vote hanging in the balance between Mr. Snow and Mr. Van Tine.
In an August 13, 2004 Financial Times article authored by Caroline Daniels entitled, “The Revolt of the Treasury Secretary (Against His Own Staff!), it was noted that Treasury Undersecretary Brian Roseburo insubordinately voted in the negative against the wishes of his boss at Treasury, John Snow, thereby enabling long-time Bush confidant and Baker-Botts attorney Van Tine to abstain from voting since his vote was rendered moot.That single negative vote thrust United Airlines into Chapter 11 bankruptcy enabling the subsequent total decimation of employee labor contracts and termination of pensions.
Request is hereby made that your office conduct a thorough investigation into this matter and provide our association with the rationale behind this questionably legal decision and offer a reasonable legal opinion as to why this insubordinate vote was cast with impunity, which caused so much pain, loss, and suffering to so many as a result.When one also considers the tremendous financial losses incurred by employees, retirees, and unsecured creditors and vendors in the bankruptcy by a single vote, the apparent criminality begs for a response from the Departments of Treasury and Justice, and the Securities and Exchange Commission. It is believed that this question has been answered by another organization, but a legal opinion from your office is requested as well.
I have filed for whistle blower protection under the auspices of the Sarbanes-Oxley Act of 2002 and have contacted Securities and Exchange Commission Inspector General H. David Kotz, as well as Senator Grassley on these and other matters.Additionally, I am affiliated with the Government Accountability Project in Washington, DC, as well as numerous civic criminal investigation organizations.If investors were bilked out of billions of dollars by illicit means, then the white-collar criminals must be brought to justice.
In light of the hundreds of billions in tax dollars presently being unconditionally doled out to banks without congressional oversight or accountability, the $2.1-billion United Airlines loan application offered during financially healthier times and under extremely stringent financial conditions by the ATSB pales in comparison.Shortly after casting his vote, Mr. Roseburo quietly returned to a position at a prominent Wall Street bank. This was an outrage; it is criminal.
President Obama campaigned on a promise of open government, which included the exposition of white-collar corruption, untoward lobbyist pressures, and excessive executive compensation.Our association efforts are in full support his stated goals, as well as those of the Department of Justice, Treasury, and the Securities and Exchange Commission.
Thank you for the time and consideration.I will patiently await your response for inclusion in my federal complaint file in Chicago.
Very respectfully,
Dan Hanley
Spokesperson – Whistleblowing UnitedPilots Association
Cc: Senator Charles Grassley – Ranking Member, Senate Finance Committee
Senator Carl Levin – Chairman, Senate Permanent Subcommittee on Investigations
Congressman Henry Waxman – Chairman, Government Oversight Committee
Mary Schapiro – SEC Chairman
Merri Jo Gillette – SEC Midwest Regional Director
Rita Glavin – Acting Assistant Attorney General, Criminal Division
Robert Mueller – FBI Director
Patrick Fitzgerald – District Attorney for the Northern District of Illinois
Robert Grant – Chicago FBI Special Agent-in-Charge
Tom Devine – Government Accountability Project Legal Director
Members of the Whistleblowing United Pilots Association
*********************************
October 18, 2007
4204 Lakeside Way
Newnan, Georgia 30265
Mr. Christopher Cox – Chairman
Securities and Exchange Commission
SEC Headquarters
100 F Street
Washington, D.C. 20549
SUBJ: WHISTLEBLOWING UNITED PILOTS ASSOCIATION
Dear Chairman Cox,
In accordance with the provisions of the Sarbanes-Oxley Act of 2002 and the federal protections afforded therein, on behalf of the employees and retirees of United Airlines, I hereby declare myself a federal whistleblower. Since 2003, I have attempted to be a whistleblower whose rights have been denied.
The Whistleblowing United Pilots Association is somewhat of a misnomer in that it is an independent grassroots coalition of all airline employees and retirees from every airline across the nation whose purpose is to help discover the truth and serve justice on the white-collar criminals who perpetrated the crimes, which enabled the demise of post-9/11 airlines employees and retirees in bankruptcy.
My purpose merely serves as a voice of the many financially disenfranchised United and other airline employees and retirees who have suffered so much at the hands of so few. An expanding whistleblowing email network was developed to enable cross-communication amongst members. Tens-of-thousands of concerned employees are in bcc receipt of this email correspondence and will be awaiting your legal response.
As you well know, in the aftermath of the exposition of white-collar corruption in the cases of Enron, Tyco, World Com, and others, President Bush signed into law the Sarbanes-Oxley Act of 2002 where he remarked this law to be, ”the most far-reaching reforms of American business practices since the time of Franklin D. Roosevelt.
Strong legal evidence has surfaced in the United Airlines bankruptcy that supports allegation of judicial corruption, fraudulent government application processes (including redacted documents), nondisclosure of certain assets, questionable independent accounting oversight, and alleged collusion between government agencies, financial institutions, and United Airlines management from 2002 to present. Although previously notified, to date, the Department of Justice and relevant congressional committees have investigated none of these charges. Kindly refer specifically to the attached Report of Examiner Ross O. Silverman page 33, paragraph 9, “The Transmittal to the Officers and Directors of United of a redacted version of the ATSB narrative” as you read on.
It is herein that I reference relevant and germane Titles and sections of the Sarbanes-Oxley Act within your domain of authority.
Title I Public Company Accounting Board (PCOAB)
Section 101 Establishment of the PCOAB
Given the allegations stated above, the PCOAB appears to have failed to provide federally mandate oversight that might have precluded the demise of employee stock ownership of United Airlines through the Employee Stock Ownership Program (ESOP) during the bankruptcy.
Section 104 Inspection of Registered Public Accounting Firms
An inspection of the Public Accounting firm of Kirkland & Ellis should be conducted.
Section 105 Investigations and Criminal ProceedingsJames Sprayregan, an attorney at Kirkland & Ellis at the time, and United Airlines’ lead bankruptcy lawyer, left this firm immediately following the bankruptcy to accept a position with Goldman-Sachs, a major creditor and investment banker of United Airlines.
Title III Corporate Responsibility
Section 302 Corporate Responsibility for Financial Reports
Section 302(a)(4)(B)
Fraudulent federal documentation in certain application processes has been exposed. The United Airlines frequent-flyer program, Mileage Plus, may not have been disclosed as an asset during the bankruptcy process and must be thoroughly investigated.
Section 304 Forfeiture of Certain Bonuses and Profits
Directly as a consequence of allegedly fraudulent bankruptcy processes that included nondisclosure of Mileage Plus and purportedly corrupt judiciary, United Airlines employees forfeited majority ownership of the airline in bankruptcy as their ESOP stock was sold out from under them with the blessings of the court. Top-level United management rewarded themselves with huge bonuses on bankruptcy exit.
Section 305 Officer and Director Bars and Penalties
Given the criminal loss of ESOP stock, United Airlines employees demand equitable relief in accordance with the provisions of this section.
Section 306 Insider Trading during Pension Fund Blackout Periods
The ESOP stock was allowed to plummet to near zero value before it was sold with the bankruptcy judge’s approval. The employees were prevented from selling their stock during this time frame. This action was vigorously and legally challenged in a separate Seventh Circuit court proceeding to no avail.
Additionally, during this same time frame, ERISA laws governing the distress-termination of employee pensions may have been violated. Evidence has recently surfaced (redacted fraudulent documents), which indicate that senior United Airlines management may have been less than truthful in disclosing the financial health of United employee pensions to the Pension Benefit Guarantee Corporation (PBGC) in petitioning the board for said distress-termination.
Section 308(a) Fair Funds for Investors
In light of the facts stated herein, it is requested that the Commission obtain a federal court order requiring disgorgement against the person(s) for violations of this Act. Additionally, it is legally incumbent upon the Commission to obtain civil penalties against such person(s).
Title IV Enhanced Financial Disclosures
Section 406(a Code of Ethics Disclosure
The senior level management of United Airlines allegedly failed to disclose the value of the Mileage Plus asset. Appropriate legal authority has not investigated additional evidence, which includes redacted documents. This purported unethical corporate conduct may have drastically impacted investors and others, thereby enabling change of control of United Airlines from employees to outside investors and corporate leaders.
Title VII Studies and Reports
Section 703
It is federally mandated that a study be commenced of relevant public accountants, investment bankers, dealers, attorneys, and other securities professionals practicing before the Commission in these matters. In accordance with the Act, a report should be submitted to the Senate Committee on Banking, Housing and Urban Development, and the House Committee on Financial Services.
Section 704 Study of Enforcement Actions
With the exclusion of revenue recognition of the Mileage Plus asset through possible accounting treatment of off-balance sheet special purpose entities, a study must be conducted and presented to the congressional oversight authorities mentioned above.
Section 705(a)
A GAO study must be conducted on whether investment banks and financial advisers assisted companies in manipulating their earnings and obfuscating their true financial picture.
Title VII Corporate Criminal Fraud Accountability
Para 1519
There exists evidence that suggests falsification of records in the United Airlines bankruptcy that must be investigated in accordance with this provision.
Para 1520
Accountants by law (15U.S.C. 78j-1(a)), must maintain all audit or review work papers for a period of 5 years. In light of questionable bankruptcy accounting practices, an SEC review is mandated.
Section 806 Protection for Employees of Publicly Traded Companies who provide evidence of Fraud
As a B-777 Captain at United Airlines in 2003, I was a whistleblower who was illegally discharged for attempting to speak out on these and other issues. I subsequently filed an FAA Whistleblower Protection Report that was ignored by the Federal Aviation Administration. I have petitioned every level of government and law enforcement for assistance to no avail.
Para 1514 Civil Action to protect against retaliation in fraud cases
Before expulsion from United Airlines, after 25 years of dedicated service as a pilot employee, while attempting to speak out on allegedly criminal issues, I was suspended from line operations as a Captain, denied legal representation by union lawyers, involuntarily placed on sick list without due cause or physical examination, ushered into the Employee Assistance Program (EAP), and discharged from employment as a direct result of my attempting to comply with Federal Aviation Regulations, union charter, and the Code of Ethics prescribed by my union, the Air Line Pilots Association (ALPA).
I have digitally-recorded phone conversations, copies of stonewalled federally-mandated reports, and other correspondence, documentation, witnesses, and evidence to legally support my allegations.
Section 807 Criminal Penalties for Defrauding Shareholders of Publicly Traded Companies
Para 1348 Securities Fraud
Based on the evidence at hand, it is further alleged that securities fraud has occurred and must be investigated.
Title IX White-Crime Penalty Enhancements
In accordance with the White-Collar Crime Penalty Enhancement Act of 2002, it is further demanded, if allegations are proven to be true, that the maximum civil penalties be imposed in accordance with this Act.
The following Title IX Sections are germane and relevant without further comment.
Section 902 Attempts and Conspiracies to Commit Criminal Fraud Offenses
Section 903 Criminal Penalties for Mail and Wire Fraud
Section 904 Criminal Penalties for Violation of the Retirement Income Act of 1974
Section 905 Amendment to Sentencing Guidelines Relating to certain White-Collar offenses
Section 906 Corporate Responsibility for Financial Reports
Title XI Corporate Fraud Accountability Act of 2002
Section 1102 Tampering with a record or otherwise impeding an official proceeding
Relevant and germane to the issues addressed above.
Section 1103 Temporary Freeze authority for the Securities and Exchange Commission
In accordance with the provisions of this Act, and in light of the aforementioned alleged illegal activity as supported by the evidence at hand, it is requested at the commencement of this investigation, that the Commission seek a temporary federal court order suspending the United Airlines directors, partners, and controlling agents from the authority of their positions, until the results of said investigation are reported to relevant congressional committees.
Section 1105 Authority of the Commission to prohibit persons from serving as officers or directors
Subparagraph (F)
In accordance with the provisions of this subparagraph, it is further requested that the Chairman of United Airlines and other key Board of Director members who may have knowingly violated section 10(b) or rules and regulations there under, be suspended from their positions as such, until a thorough investigation is completed.
Section 1106 Increased Criminal Penalties under Securities and Exchange Act of 1934
In light of the alleged heinous white-collar crimes that may have been committed against post-9/11 United Airlines employees and retirees, investors, vendors, and the American taxpayer, coupled with the obscene financial rewards bestowed on top-level corporate officers on bankruptcy exit, it is demanded that the harshest financial penalties and jail sentencing be imposed as allowed under the provisions of the Sarbanes-Oxley Act of 2002.
Section 1107 Retaliation against informants
The Commission is hereby commanded under this provision that my wife and two adult children, Michael Lynch, former Chairman and CEO of McCook Metals LLC and his family, his criminal informants (who have not yet been afforded DOJ witness protection/immunity), other informants and their families, as well as myself, be afforded immediate legal and other physical protections as mandated by this Act.
I have attached a signed and sworn affidavit for your perusal. An SEC Complaint Form has been filed both electronically and via the U.S. Postal service certified mail and sent to the SEC Complaint Center. This letter with attachments (including the affidavit and a copy of the complaint form) has been forwarded to your office via certified mail also.
President Bush signed the Sarbanes-Oxley Act of 2002 into federal law; we expect the letter of the law to be upheld in accordance with the precepts of our constitution and principles of honest government. Failure to do so will constitute a serious breech of public trust and freedom of speech.
Citizens of this country have a right and constitutional authority to speak out when crimes may have been committed. They have a legal and moral obligation to do so as patriots. By sending you this letter, I am merely exercising these rights and responsibilities as an American citizen who is attempting to be patriotic.
In closing, while serving in your capacity as the Chairman of the Securities and Exchange Commission, you have legal, moral, and constitutional authority and obligation to respond. If the Securities and Exchange Commission fails to act, federal law will not have been upheld; our government yet another time will have stonewalled the Whistleblowing United Pilots Association. To date, Congress and federal law enforcement officials have not responded to our petitions. Will you?
Very Respectfully,
Daniel W. Hanley
Encl: Signed and sworn affidavit by Daniel W. Hanley dtd Oct 18, 2007
Ltr dated April 12, 2006 to DOJ Gonzales, DOT Mineta, and DHS Chertoff
Ltr dated November 13, 2006 to Congressman Henry Waxman
Ltr dated November 18. 2006 to Senators Reid, Durbin, and Obama
Ltr dated November 20, 2006 to District Attorney Patrick Fitzgerald
Ltr dated January 25, 2007 to Senator Patrick Leahy
Ltr dated February 1, 2007 to Senator Ted Kennedy
Ltr dated January 25, 2007 to Congressman John Conyers, Jr.
Ltr dated February 1, 2007 to Congressman George Miller
Ltr dated September 1, 2007 to Asst Attorney General Alice Fisher
Ltr dated September 3, 2007 to Senator Daniel Akaka
Report of Examiner Ross O. Silverman dtd March 18, 2004
SEC Complaint Form submitted by Daniel W. Hanley dtd Oct 18, 2007
Cc: Whistleblowing United Pilots Association
President George W. Bush
Vice-President Dick Cheney
Fred Fielding – Counsel to the President
Acting Attorney General Paul Clement
Elaine Chao – Labor Secretary
Kirk Van Tine – Baker-Botts
Carlos Gutierrez – Commerce Secretary
Mary Peters – Transportation Secretary
Asst Attorney General Alice Fisher
FBI Director Robert Mueller
District Attorney Patrick Fitzgerald
Chicago FBI Director Robert Grant
Mary Jo Gillette – SEC Chicago Regional Director
Senator Harry Reid – Senate Majority Leader
Congresswoman Nancy Pelosi – Speaker of the House
Senator Patrick Leahy – Chairman, Senate Judiciary Committee
Senator Ted Kennedy – Chairman, Senate Labor and Pension Committee
Senator Richard Durbin (D-IL)
Senator Barak Obama (D-IL)
Congressman John Conyers, Jr. – House Judiciary Committee Chairman
Congressman George Miller – Chairman – Committee on Labor/Pensions
Glenn Tilton, Chairman – United Airlines, Inc.
Jake Brace, Chief Financial Officer – United Airlines
I, Daniel W. Hanley, being first duly sworn, on oath, states as follows:
I am of legal age and competent. This affidavit is made on my personal knowledge of all matters set forth and referenced herein. If sworn and called as a witness in this case, I could, and I would, testify competently as to each fact set forth and incorporated herein by reference.
The alleged facts supported with evidence are true and correct to the best of my personal knowledge of the facts, evidence, information and belief.
I am of information and belief that Michael Lynch, former CEO and Chairman of McCook Metals, LLC, with the assistance of local and national organizations and individuals, has turned over to civil and criminal authorities and multiple media entities material evidence confirming the existence of an alleged organized, nation-wide criminal enterprise involving officers of state and federal courts who exploit litigants for their personal financial gain and who unlawfully manipulate and exploit the judicial system at the expense of state and federal taxpayers as well as for their personal financial gain in violation of state and federal tax laws.
I am of information and belief that multiple judges and lawyers are aware of and/or involved in the alleged criminal acts by federal court agents. That in alleged violation of Illinois Supreme Court Code of Judicial Conduct Rule 63(B)(3)(a) and/or Rules of Professional Conduct Rules 8.3 and 8.4, these members of the bench and bar have not reported these alleged illegal acts to the appropriate authorities, thereby conspiring with the same, and/or have directly committed these alleged acts. By law, all should have their law licenses permanently revoked and/or be removed from the bench instanter.
I am of information and belief that American citizens have been retaliated against for attempting to obey their civil and moral duties as members of a free democracy to expose these unlawful acts by state and federal court agents including, but not limited to, retaliation by means of judicial kidnapping of children, false incarceration after being “framed” by criminal elements in civil and criminal authorities, impoverishment, coercion under duress, and serious physical injury up to and including death.
My involvement in these matters has created much disharmony within my loving family. We are shouldering this cross with our faith and trust in God, our political leaders, justice system, law enforcement agencies, and our Constitutional rights of freedom of speech.
I am of information and belief that the Operation Greylord investigation and convictions only touched a percentage of the total number of allegedly corrupt state and federal court agents in Chicago.
I am of information and belief that Seventh Circuit federal bankruptcy Judge Eugene R. Wedoff, the presiding judge in the United bankruptcy, allegedly maintains a $40-million ‘bribery fund’.
I have direct knowledge of, with supporting evidence such as digitally recorded phone conversations, stonewalled federal reports, correspondence, witnesses, and other materials in safekeeping via USB flash drive devices at numerous undisclosed locations to prove that I was illegally removed from employment as a United Airlines B-777 Captain in 2003 for attempting to whistleblow on federal issues involving safety, security, and possible RICO violations. Subsequent attempts to bring these matters to the Federal Aviation Administration, the Department of Justice, the Department of Homeland Security, numerous politicians and law enforcement officials have been ignored.
I am of information belief that senior-level United Airlines management may have redacted documents in the post-9/11 Airline Transportation Stabilization Board (ATSB) loan application process as well as deceiving the Pension Benefit Guarantee Corporation (PBGC) of the true financial health of the United Airline employee pension funds.
I am of information and belief that a major and direct conflict of interest existed with the appointment of Robert Gordon as one of four members of the PBGC Oversight Committee to represent employee pension interests just four days before Judge Wedoff ruled in favor of distress-termination of employee pensions. Mr. Gordon had previously served under United CEO Glenn Tilton while at Texaco/Chevron and was also a close personal friend of the President. In a review of documents procured through the Freedom of Information Act (FOIA), there is no evidence that PBGC Director Bradley Belt ever conducted the ERISA-mandated in-depth analysis of United Airline pension funding before agreeing to said termination.
I have direct knowledge of increasing evidence that suggests the Department of Justice is blocking attempts to provide witness protection/immunity from prosecution for criminal informants and others in these matters.
Given the aforementioned, since only $1.5-billion of the $10-billion authorized in loan guarantees by the Airline Transportation Stabilization Act were let, and since evidence suggests that United Airlines management was less than truthful in their application process, the Chapter 11 bankruptcy filing of United Airlines may not have been necessary.
