If there was a clause on page 234 of your mortgage or insurance policy that let them kill you and harvest your organs, that would be wrong, even if you should have read it before you signed.
Fraud is not getting what you were sold. You were sold a ticket for conveyance from one point to another. Failure to provide that should have consequences severe enough deter even a worldwide organization.
Screw the weasel words, anybody who would enforce them, those who write them; if we don't have the power of the law on our side then social media will have to suffice; it is a crude, inaccurate and unreliable weapon, but as long as we have jack boot lickers who think that it should under any circumstance be legal for someone who has been sold something to be forcefully deprived of it, it will have to suffice.
As with ventilating burglars, better an arbitrary and extreme deterrent than merely shrugging one’s shoulders and saying ‘not worth the fight’
Overbooking should be made illegal. Since it won't be due to the size, wealth and power of the airlines then I hope EVERY time someone is treated thusly it becomes a media event that costs them orders of magnitude more than they save from the entire process.
That mortgage clause may be wrong but that does not make it fraudulent. Yeah passing a law will help more government is always the answer. Especially when it imposes your desires and will on someone else. I support overbooking. It always for the airlines to make more money which means cheaper flights.
You have the power of the law on your side. It’s called “ contract law” and competent adults, in this case you and the airline, have a constitutional and common law rights to freely enter into a contract. If you don’t like the terms negotiate better ones or do not enter into the contract. The choice is yours.