Royal Munger Cited in “Insull: The Rise and Fall of a Billionaire Utility Tycoon”

Page 306 (courtey of Google Books):

In 1929 and 1930 Royal F. Munger, the chief financial writer for the Chicago Daily News, was the chief yea-sayer among the financial reporters, singing Insull’s praises to the point of idolatry. In 1931 he wrote as if he had been hired as chief apologist for the losses of the year, and even as late as February, 1932, he played the role of chief whistler in the dark. But as soon as Insull’s empire collapsed, Munger was among the newspapermen calling for his scalp. Playing to both sets of victors, he began praising the bankers who had “rescued” the Insull companies and shouting for municipal ownership of all utilities in future.1

1 See, for example, Munger’s articles in the Chicago Daily News, Aug. 23, Oct. 31, 1929; Nov. 26, 1930; Dec. 24, 1931; Jan. 23, Feb. 8, Feb. 16, Sept. 14, 1932.

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