Most condemn him, but they fear reform more
For weeks the American Bankers Association in Washington has been swamped with irate letters and phone calls from members. Their gripe: Bert Lance's flamboyant ways have given the business a black eye, and could subject it to far more intense Government scrutiny than now exists. Said ABA Spokesman Edward Smith: "The practices Lance is supposed to have followed cannot be considered normal or widespread. They just aren't tolerated in most banks."
Nonetheless, when officials at one of New York City's biggest banks tried to write an...
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