Leave it to the market
Cry Wolf Quotes
You're wrong in stating where the problem came from. The problem came from this notion that everybody in America had a right to a house whether they could ever afford to pay their loan back. That's what the Community Reinvestment Act was all about.
We have consistently opposed mandatory fuel economy standards as unnecessary. Because it is clearly in our self interest to meet customer requirements on fuel economy improvements, as demonstrated by our own high mileage m.p.g. small cars recently announced.
It is sickening to see the gutless minions of the news media siding with those few crybaby Americans who obviously are looking for a handout from the very hand that fed and clothed their families.
If we sell too many big cars in any quarter in 1978, we’ll have to hold back our product mix and we’ll have to ration or allocate cars. The law is final now, but if enough people complain when they can’t get a big car, maybe the government will revise its legislation. To meet 27.5 m.p.g. by ’85, the average weight of cars will have to be about 3,200 pounds versus 4,000 pounds now. That means every car would be a compact, subcompact, or smaller. The new law implies that we must get better fuel economy between 1980 and 1985 then between 1978 and 1980. That’s unlikely.
