"Created during World War II as a purely U.S. operation free of the perceived taint of European allies, the Pond existed for 13 years and was shrouded in secrecy for more than 50 years. It used sources that ranged from Nazi officials to Stalinists and, at one point, a French serial killer.
It operated under the cover of multinational corporations, including American Express, Chase National Bank and Philips, the Dutch-based electronic giant. One of its top agents was a female American journalist.
Created by U.S. military intelligence as a counterweight to the Office of Strategic Services, the forerunner of the CIA, it functioned as a semiautonomous agency for the State Department after World War II and ended its days as a contractor for the CIA with links to J. Edgar Hoover's FBI."