The High Cost of Morgenthau

Dour, diffident Henry Morgenthau Jr. sat in the House Ways & Means Committee room one morning last week munching raisins. Beside him also munching raisins sat his chief tax expert, small, dun-colored Randolph Paul. Now & then they both drank water from a cone of paper cups piled beside a big water jug, while a battery of grey young Treasury experts, without benefit of raisins and water, periodically scrabbled for documents in accordion-sized brief cases. Morgenthau & Co. needed their vitamins: they had been up most of the night before, putting the...

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