Business: Again, Political Slush Funds

CORPORATIONS Like many other U.S. corporations, Gulf Oil, Braniffand American Airlines took some legal lumps in the aftermath of Watergate. Charged with having made illegal contributions to former President Nixon's re-election campaign, the three companies and some of their executives pleaded guilty and were forced to pay fines. Federal law prohibits corporations from making contributions to political candidates, parties and campaign organizations.

Last week the companies and several executives found themselves the targets of new charges. The accusations stemmed from the practices by which they had raised the money that got them into trouble in the Watergate case in the first place....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!