I have been asked to describe the American attitude toward Bermuda 2 from a Pan American perspective. I will not burden you at length with an introspective analysis of how happy or unhappy we are with the results. We did not anticipate that the negotiations would be a tea party, and the event was certainly not as universally acclaimed on the US side as was the Boston Tea Party (an affair whose 204th anniversary will be celebrated in about two weeks).

As you know, a good deal of dissatisfaction with Bermuda 2 has been expressed in various quarters in the United States, some of it informed and quite sincere, some of it unrealistic and exaggerated. Pan American, which thought it had the most to lose in the negotiations, was confirmed in that expectation. However, we have not engaged in sterile recrimination. The United States side was ably and effectively represented.Had the responsi-bility been ours, we cannot say that we could have made a better overall bargain given the ability and tenacity of the opposition and the need felt on both sides to reach an accommadation.