Foreign Repair Stations date back to the 90s [1], the thing is they need to be supervised by an FAA Certified Mechanic. Inspection of these was already a hot issue in the early '00s... No one gave a fuck, it was all about saving costs for a very long time.
The linked 2007 report's second page (!) already leads with this:
> Since 2001, eight commercial air carriers have gone through bankruptcy and one has ceased operations. Fuel prices remain high, and this makes cost control a key factor in both the sustained profitability and overall survival of an airline.
IMHO, this is a perfect example why the government needs to regulate prices in safety-critical industries. The "race to the bottom" must be prevented - sorry, flying NYC-SFO for 70$, that's not sustainable.
[1] https://www.oig.dot.gov/sites/default/files/Web_File_Foreign...