Government ownership of airlines a really bad idea

In times of crisis, people often come up with really good ideas for dealing with problems and some really bad ideas. Many times, some of the really bad ideas are adopted, and at times, it takes many years to correct the mess that resulted.

One of the bad ideas that is now being floated by some in the Trump administration and in Congress from both parties is for the federal government to take an equity stake in the airlines and some other businesses in exchange for aid, to offset the losses from the COVID-19 virus. The advocates of equity ownership by government have a fundamental misunderstanding of the proper roles of both government and business in a capitalist society.

It is obvious that the airlines are in financial trouble through no fault of their own. Assume you have a farm with a stream running through some of your pastureland where you graze cattle. Your neighbor downstream from you decides to build a dam on the stream for flood control and irrigation. When completed, the pond created by the dam also floods some of your pastures, making it impossible to graze cattle on the affected land. 

You have suffered a loss in the value of your property because of the actions of your neighbor, as well-intentioned as he/she may be.  You would have a right to bring legal action against your neighbor and seek compensation for the loss of your property value.

Federal, state, and local authorities mandated the shutdown of much of the American economy, which has been a disaster for the airlines and many other businesses. We will not know for a matter of months, or perhaps years, if the stay-at-home strategy was correct — too much or too little — given the lives saved, the lives lost, and damage to the economy.
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