The Nation: Lance's Loan

Questions about another deal

Bert Lance was summoned last week for what was supposed to be an unpublicized interrogation by Comptroller of the Currency John Heimann, who is investigating loans the budget director has received. After the hour-long session, Lance hastily called a press conference to reveal—and rebut—new questions Heimann had raised about a $2.6 million loan to Lance by New York's Manufacturers Hanover Trust in April 1975, soon after he became president of the National Bank of Georgia. The big question is whether Lance got the credit as an improper quid...