Business: Frankfurter v. Pupils

Felix Frankfurter, Vienna-born Jew whose name shines brightest in the most famed law school of the U. S., had written a law. The President had signed it. And last week every firm of corporation lawyers in the land, including nearly all the cleverest pupils of Harvard's Professor Frankfurter, sidetracked most of their other business to find a way to finance U. S. industry without disrupting the existing financial system. They could not; their professor had outsmarted them ("with diabolical brilliance''); and some-were vexed.

Some were even alarmed. As far as they could see...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!