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Senate panel clears Bert Lance amid smear charge
The Senate Government Affairs Committee gave Budget Director Bert Lance a unanimous clean bill after two hours of questioning over his finances. Lawmakers praised his honesty while railing at press coverage, with Ribicoff attacking reporters as smear artists and Nunn warning against presuming guilt. Lance explained a normal teaser banking relationship with First National Bank of Chicago tied to a $3.4 million loan for Georgia bank stock. a sale to a Georgia businessman was expected soon, as trustee Tom Mitchell said Lance would repay the loan after stock sale.
MENTIONED IN THIS ARTICLE
Washington
UPI
Bert Lance
Lance
Senate Government Affairs Committee
Abraham Ribicoff
Dconn
Ribicoff
Sam Nunn
Georgia
National Bank of Georgia
NBG
First National Bank of Chicago
Georgia Bank
Chicago
Atlanta
Tom Mitchell
Dalton
Carter
Lawton Chiles
D-Fla