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...alphabetical agencies set up during the Great Depression, none had a bigger job than the Reconstruction Finance Corp. Created under President Hoover, it lent billions of dollars to shore up shaky banks, railroads and other key institutions. Its Depression-fighting mission accomplished, RFC lived on in World War II as the Government's most powerful and versatile financial weapon. When it became obvious that Japanese aggression would cut off the U.S. from Malayan natural-rubber supplies, RFC set up and operated the nation's huge synthetic-rubber program. It organized stockpiling of strategic materials and pre-emptive buying...

Author: /time Magazine | Title: GOVERNMENT: Taps for RFC | 7/8/1957 | See Source »

...beginning of justice," U.S. Chief Justice Earl Warren once wrote, "is the capacity to generalize and make objective one's private sense of wrong." Last week Chief Justice Warren's court generalized its way into two specific surprises that rocked the FBI and its chief, J. Edgar Hoover, raised legal brows and shook corporate board rooms across the U.S. See NATIONAL AFFAIRS, Direction Disputed, The Jencks Case, The Du Pont Case and BUSINESS, The $2.7 Billion Question...

Author: /time Magazine | Title: A Letter From The Publisher, Jun. 17, 1957 | 6/17/1957 | See Source »

Wheat & Chaff. But raw FBI reports, in the words of Director J. Edgar Hoover, may "allege crimes of a most despicable type, and the truth or falsity of these charges may not emerge until several reports are studied, further investigation made and the wheat separated from the chaff." The usual court practice has therefore been for the trial judge to screen the reports as to their relevance and competence before turning them over to the defense for use in crossexamination. The judge-as-screener procedure was what the Jencks defense asked at the trial. Government attorneys were willing...

Author: /time Magazine | Title: National Affairs: The Jencks Case | 6/17/1957 | See Source »

Stop & Go. Although the air around the Justice Department was heavy with the comments of FBI Director Hoover, Government lawyers were not convinced that things were as bad as either Clark or Hoover thought they were. They were merely confused, because, for one reason, the Supreme Court had given the Government no opportunity to argue against or prepare for its sweeping decision...

Author: /time Magazine | Title: National Affairs: The Jencks Case | 6/17/1957 | See Source »

...first White House Autogiro landing was made April 22, 1931, when James Ray stepped out of a Pitcairn to receive the 1930 Collier Trophy from President Hoover. President Taft witnessed the first airplane landing there (by Harry Atwood...

Author: /time Magazine | Title: THE CAPITAL: White House Whirlybird | 6/10/1957 | See Source »

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