For five years scores of investigators for Congress, the RFC and the Department of Justice have hunted for skulduggery in the RFC's relations with its biggest ($86 million) railroad debtor, the Baltimore & Ohio. All of them found plenty of things to criticize, such as the RFC's agreement to swap collateral for less valuable security, its failure to nail down repayment terms, and the way ex-RFC officials grabbed off juicy B. & O. executive jobs. But none of them found anything on which to prosecute. Last week in Washington, a federal grand jury decided it had something. On evidence presented by...
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