One must keep in mind that certain of the above products are consumer oriented....A Warning label would be a substantial and unnecessary deterrent to the sale of these products. Since these products are not hazardous under any conditions, they should not be labeled as such. Their demise would mean the abolition of thousands of jobs at the manufacturing, distribution, contractor, and retailer levels.
We have also removed the reference to cancer in the warning sign. Before using such scare tactics in the workplace, we feel much more should be known about the relationship between cancer and asbestos than is known at present.
The major component in many of these products is not asbestos. Paints and plastics contain less than 127 percent asbestos by weight, asbestos cement products less than 25%...
[It is a] collectivist [myth that business people] would attempt to sell unsafe food and drugs, fraudulent securities, and shoddy buildings….It is in the self-interest of every businessman to have a reputation for honest dealings and a quality product.
We feel that it is not in the public interest to require any and all information respecting the business of any bank be made a public record, and ask that the banks be required to submit information to the Federal Reserve Board only that such information be given confidential status, subject to the discretion of the Federal Reserve Board.
[Those killed in factory fires are] an infinitesimal proportion of the population.
