He Said It

(Adam Rountree - Bloomberg News)

"It's an anachronism. It's just completely out of sync with what we need today."

-- Peter T. Mangione, president of the Footwear Distributors and Retailers of America,

on a Depression-era shoe tariff that footwear makers and retailers are trying to abolish. The tariff protects a domestic shoe industry that no longer exists, as nearly 99 percent of the shoes bought in the United States last year were made overseas.