NBC Evening News for Tuesday, Feb 10, 1976
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(Studio) House Govt. Operations subcommittee focuses on Franklin National of New York, which was 18th largest bank until it went under in `74.
REPORTER: John Chancellor
(DC) Arthur Roth was chairperson of bank for many years until 1968. [ROTH - describes letters he wrote to government regulatory agencies with regard to bank's problems.] He saw Controller of Currency, James Smith, when letters failed. [ROTH - spent hour with Smith who only spoke 15 words. Smith was incompetent and negligent.] Smith makes no comment. Congmen. concede they were at fault for not checking on bank regulators enough and giving regulators enough power.
REPORTER: Irving R. Levine
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