The only loser here are the passengers.

Award seats are capacity controlled and usually fill up fast (especially on popular routes during high season). By transfering from AA to CO, not only did you lose a ton of miles in the tranfer, you will be taking away one award seat from another fellow traveller, who will now be forced to either fly somewhere else, or on another date. Of course, when he does that, he robs another traveller of his space, who will in turn rob another, and the cycle continues. Hell, it is like the airline's version of musical chairs!