GOVERNMENT: Low Bow?

For its 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).

At 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.

Congressional tempers had really burned over such...