Competitive Arguing

Last week SEC wound up the first "public conference" it has ever held Through its Washington offices had trooped some 125 investment bankers big and little. Every SECommissioner except defense-busy Leon Henderson was there; so were a few insurance men. For two weeks on and off they traded verbal and statistical blows on one vital subject-should the security issues of utility holding companies be subjected to compulsory competitive bidding?

SEC got regulatory control of utility financing in the Holding Company Act of 1935. Same year, the New Deal's National Power Policy Committee reported to the President that "fundamentally the holding-company problem...

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