GOVERNMENT: Close to Bribery

Said RFC Boss W. Stuart Symington: "It comes about as close to bribery as you can get." He was talking about the latest mess he has uncovered in RFC in connection with the $15,100,000 loan to Texmass Petroleum Co. (TIME, April 24, 1950), now Texas Consolidated Oils. Symington charged that Allen E. Freeze, former RFC official, had taken a $22,500-a-year job with the oil company while on RFC's payroll and while the agency was considering the loan, damned by the Senate Banking Subcommittee as a "bailout" for big banks and Massachusetts insurance...

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