Word: hisings
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...easy-come, easy-go ladling out of cash, RFC has been roundly criticized by congressional reformers. Last week, President Truman ousted two of the lending agency's top officials: Chairman Harley Hise (Democrat) and Director Harvey J. Gunderson (Republican...
...first glance it appeared that the President was making a low bow to RFC's critics. There was no doubt that RFC's management had been sadly inept under Chairman Hise. And his vague explanations about some of RFC's multi-million-dollar loans during his regime had satisfied practically nobody...
...Washington gossiped that RFC's inept management had not been the only reason for the President's head chopping, especially since some of RFC's biggest blunders (e.g., Lustron) had been made under White House pressure. Another probable cause was the fact that both Gunderson and Hise had opposed Truman's plan to transfer RFC to the Commerce Department. Furthermore, Gunderson had bucked Truman's plans to aid small business with federal loans; Gunderson thought that a cut in taxes would help far more...
Ponderous RFC Chairman Harley Hise sputtered that the loan was made to the very respectable owners of the hotel, who had in turn leased out the gambling rights, in a state where gambling is legal. Though the RFC did not set the house percentages on the roulette wheels, RFC admitted that it had, of course, considered the "take" in deciding to risk the loan...
When he was called before a Senate Banking subcommittee last month to defend a $10.1 million loan authorization to Texmass Petroleum Co., RFC Chairman Harley Hise assured the committee that this was "the first loan RFC has ever made to the oil industry." Last week RFC Director Harvey Gunderson corrected his boss. RFC has been in the oil business since 1940, Gunderson told the subcommittee. In that time it has made 82 loans amounting to $18.9 million for oil development. Some 13 oil loans were still outstanding and three more besides Texmass' had been authorized...