When he reforms, no one reforms more violently than the penitent rake. Prime bad boy of U. S. industry, in the eyes of the public, Congress and Federal Trade Commission, has been the electric light & power business. Three years ago the Trade Commission focused attention on the vigorous propaganda work which the National Electric Light Association, controlled by disgraced Samuel Insull, was carrying on in schools and colleges (TIME, Aug. 31, 1931). Later the Insull crash threw into bold relief such practices as the looting of operating companies by holding companies, the...
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