CORPORATIONS: Superbankers in Control

Who controls American business? A report issued last week by two Senate Government Operations subcommittees, headed by Maine's Edmund Muskie and Montana's Lee Metcalf, says that the levers of corporate control are held by "a few institutional investors, principally six superbanks headquartered in New York." Of those six, the subcommittees found that as of 1972 the Chase Manhattan Bank was the largest single stockholder in 20 companies, First National City was the biggest owner in nine firms, Morgan Guaranty in four, Bankers Trust and Chemical in three each, and Bank of New York...

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