Mt. Pleasant Pyramid | 1933-02-10 | Page 2 | Pomerene Blames the Big Banks

Pomerene Blames The Big Banks Chairman Atlee Pomerene, ci the Reconstruction Finance Corporation, Cor-poration, complains that many c our large banks, after get.ing al the money in the community "treat it as if it were in col ' storage." He calls attention to the fact that these big bankers, afer having hav-ing been paid by the railroad?, with money borrowed to a largo extent from the government, decline de-cline to play a proper part in the financing of the roads. Mr. Pomerene Pom-erene frankly admits that t-lv "banks have not done their duty." His testimony before the Senate committee lends color to the charge that after all was over it would be discovered that the government's gov-ernment's dash to assist the railroads rail-roads would be for the sole benefit bene-fit of bis hankers who would do this milking.