mitsubishi. and that... and but he needed that deal to close, we wanted it to close.e were naturally... all through this crisis we talked with foreign governments. they had a real interest in the stability of our system and what was going on, so we talked to the chinese, we talked to the japanese. now, in the case of the morgan stanley investment with mitsubishi, the japanese government obviously wanted to know, as did the bank, that investment would be welcomed and that the u.s. government wouldn't go right after investment was made and do something that would... >> rose: so what did you say to the japanese? >> so what we did was i talked with the japanese fiennes minister and told him it would be very much welcomed and we ended up providing a... as i tell the story in the book, a letter to the japanese government which never mentioned morgan stanley or mitsubishi by name but made it very clear that this was going to be welcome and that we weren't going to do something that was going to immediately hurt the investment. >> rose: as i said, this is high drama. >> right

mitsubishi and peugeot began talks in december to build on their cars. mitsubishi fell 3% in line with the other auto losses we're seeing and peugeot fell 2.5%. ross. >> one of the interesting opportunities you suggest is japan. why doesn't japan merit stimulation for investors? >> we're talking about quantitative easing, and yesterday what we see is a change of administration in japan, a new man at the helm who is more combatic. i expect we will see a hiking in quantitative easing. i think that will mean a weakness of the yen. i think we will be looking at some of the cheaper japanese exporters. i think we should be looking at companies with strong free cash flow yield where the shares are inherently cheap. and i think we should have another look at the japanese banking sector where a lot of restructuring is over. >> you say japan is a take on the global cycle. >> if you said to me, where are we in terms of the political agenda for growth, it's quite clear that we're going to see a very significant reemphasis on ensuring that the global economy does not

chrysler and mitsubishi, that fell apart. and ford and nissan also fell apart. for the united states i think the idea is that you do a joint venture to get on your feet. then you want to be on your own. it was a very interesting time to look at these. i think the detroit companies thought they were going to learn all kinds of secrets from foreign companies. what they saw was that they were a different kind of organization. it was not a detroit style organization. if you look at something like the toyota matrix and the pontiac vibe. it is hard to market two cars under separate brand names. i don't see that as a solution for competition. i think the detroit companies are just going to have to get stronger so that they can deal with competition on their own shores. thank you. >> you mentioned that a lot of international companies come here because of a blank sheet of paper. you also mentioned that machine may not be able to provide that blank sheet of paper because of who is here. if who is here is to is voting into is dictating policy would if michigan can't do wh

i currently own a 1980 plymouth colt, made by mitsubishi. i have 280,000 miles on it.not see a problem with older cars, however having an electronic background, i have to say that i believe that there are quite a bit of problems i have seen that in everything from ford to nissan. even the air filterÑi sometimes, the censors do not react to the computer properly. host: we will get a response. thank you for the call. guest: he raises a good point on electronics and other issues. ford announced the they will call in theirçó fusion vehicles for a software glitch that consumer reports found. electronics have a tendency to have glitches or fail after a while. there is no reason to expect that cars will not have those problems either. host: the avalon, the toyota corolla, the toyota camry, the toyota highlander, the toyota matrix, the toyota previoius, te toyota tundra, the toyota tacoma, all on the recall list. what about the lexus? guest: there are some of them on the format recall. there are some overlapping issues.  in the u.s. in total. host: john, good morning. caller:

i currently own a 1980 plymouth colt, made by mitsubishi. i have 280,000 miles on it.do not see a problem with older cars, however having an electronic background, i have to say that i believe that there are quite a bit of problems i have seen that in everything from ford to nissan. even the air filterÑi sometimes, the censors do not react to the computer properly. host: we will get a response. thank you for the call. guest: he raises a good point on electronics and other issues. ford announced the they will call in theirçó fusion vehicles for a software glitch that consumer reports found. electronics have a tendency to have glitches or fail after a while. there is no reason to expect that cars will not have those problems either. host: the avalon, the toyota corolla, the toyota camry, the toyota highlander, the toyota matrix, the toyota previoius, te toyota tundra, the toyota tacoma, all on the recall list. what about the lexus? guest: there are some of them on the format recall. there are some overlapping issues.  in the u.s. in total. host: john, good morning. call