The exact same argument applies to insurance..but your insurance company can't say we are not paying for your wide screen tv when your house burns down.
I would have no problem with having to declare the items, FedEx style... who managed to transport millions of packages and don't exclude high value items.
My real beef it that the thieves that airlines employ have been getting away with it for years, notwithstanding 60 Minutes or some other TV expose periodically. The reason they get away with it, is because the airlines refuse to take seriously the systematic theft going on under their noses.
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