y liberal Democratic senator Ted Kennedy to head a Senate investigation of airline regulations。
現任最高法院法官的Stephen Breyer那時是哈佛大學的一名教授，應自由主義者－民主黨參議員Ted Kennedy的請求主持一項關於航空業規章制度的調查研究。
STEPHEN BREYER； ： You discovered that basically the same firms that had been there in 1938 were still there。 Those were the major carriers and nobody new。
STEPHEN BREYER，美國最高法院法官：我們發現自從1938年以來基本就是那些公司存在，它們是主要的航空公司，沒有新進入者。
NARRATOR： The hearings began； and officials from the Civil Aeronautics Board were called to testify。
旁白：聽證開始了；美國民用航空局的官員被召來作證。
STEPHEN BREYER： And it turned out that 5 percent of their time went to stop prices that were too high and 95 percent of their time went to stop prices that were too low； but always the effort was to keep the price high and not low。
STEPHEN BREYER：事實證明他們5％的時間用來調整過高的價格，95％的時間用來調整過低的價格，但是調整價格的努力總是使價格處於高位而不是低位。
NARRATOR： Naturally； the established airlines were quite happy with this arrangement。
旁白：自然，已存在的航空公司對此非常高興。
STEPHEN BREYER： And we'd say； "；When was the last time you granted a new route？ Well？"；
STEPHEN BREYER：我們要說：“什麼時候你們才最後批准新路線？啊？”
NARRATOR： Regulations meant that major carriers like Pan Am never had to pete with newers。 But some cut…price charter flight operators wanted to break this club。 Leading the struggle against Pan Am over its profitable trans…Atlantic flights was an exuberant Englishman called Freddie Laker。
旁白：規章制度意味著主要的航空公司，比如泛美航空公司，永遠不必和新進入者競爭。但是一些打折的包機飛行經營者希望打破這個俱樂部。一位名叫Freddie Laker 的活力充沛的英國人領導了反對泛美航空公司有利可圖的橫跨大西洋航線的鬥爭。
FREDDY LAKER： I'm Freddy Laker。 I own Laker Airways； and I'm dedicated to low…cost air travel。 With Laker you can fly round trip to the USA or Canada in one of our wide…bodied DC…10s for less than half the price