I think a fact that I shall never forget upon visiting that Ford factory was that the cost of the car that they produced, which was the Sable, a fine car, in the United States cost approximately $20,000. When that car was exported to Japan, the consumer in Japan had to pay approximately $45,000 for that vehicle.
Discussing the price disparity of the Ford Sable between the U.S. and Japan.
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There should be no doubt that we need a new regulatory framework and as importantly sustained supervision of the financial system.
secrecy really is the hallmark of totalitarianism, and transparency is clearly an aspect of viable, healthy democracy.
I wanted to note that in hearings before the Committee which I Chaired there were a number of military prosecutors that testified that described that entire process as a sham, a joke and a fraud being perpetrated.
That is why I take offense when I hear it is the Community Reinvestment Act that did this. That is baloney.
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