Business & Finance: Warburg Warns

U. S. bankers have frequently been criticised for failure to proclaim in loud tones that stock market inflation is hurting U, S. business by making credit rates high and borrowing expensive. If the Market is on the way to running over a steep cliff into the sea, why have not the bankers endeavored to cast out its speculative devils? One reason, say cynics, is that the brokers are excellent customers.

Last week, however, one U. S. banker did speak his mind on speculation, flayed not only the Market but...

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