A savy observer has described the CFR's British front-role: "The interlock problem is conspicuous for another reason, one which has never been addressed by Congress. It seems that certain huge Yankee foundations, namely Rockefeller, Ford, and Carnegie, have been conscious instruments of covert U.S. foreign policy, with directors and officers who can only be described as agents of U.S. intelligence. According to Quigley, the roots for this can be traced to the establishment of an American branch of the British Royal Institute in 1921, which itself had grown out of the Rhodes Trust. The American branch, called the Council on Foreign Relations, was a largely a front for J. P. Morgan and Company." (73)