After President Truman nominated Harry A. McDonald, a Republican, to succeed W. Stuart Symington as RFC boss, the Senate banking committee refused to approve him. Reason: a House committee was investigating the Securities & Exchange Commission, which McDonald has headed since 1949. Senators were also worried about reports that three SEC officials, who had resigned, had later turned up as counsel in cases before the SEC.
Last week the President angrily said that if McDonald were not approved, he would not appoint anyone else; he would run the RFC himself. Thus prodded, the House committee quickly finished its probe. At week's...
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