Word: dunhams
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...heart. He did not have any real friends in Washington; he was not much of a judge of people; and his memory was none too good. His name was Walter L. Dunham, and he was a director of the U.S. Government's $1 billion Reconstruction Finance Corp...
Before the Senate Banking subcommittee investigating influence in the RFC, Director Dunham, 69, leaked excuses like a wet paper bag. But his story was the most detailed report yet of the sordid state of influence peddling, political wangling and general stockjobbing into which the once-great RFC had fallen...
...Member. Dunham, a Republican and onetime president of a Detroit bank, pleaded that his was "a sad history of a businessman so naive and uninformed." When he came to Washington in 1949, said Dunham, Presidential Aide Donald Dawson told him that "top personnel matters of the RFC should be cleared through the White House" and asked pointedly whether Republican Dunham "could work in harmony with the Democratic Party." Dunham said he replied that he could "work in harmony with anybody...
...Soon, Dunham testified, he was caught up in a social whirl. Before he had been in his office four days, the ubiquitous Merl Young called on him. He soon found, said Dunham, that Dawson, RFC Director William E. Willett, Merl Young and Young's employer, Rex Jacobs, a Detroit manufacturer, were "all close friends, and that I was obviously regarded as a new member of their social group." He lunched with them and dined with them. Sometimes they were joined by Democratic National Chairman William Boyle...
Houses & Horses. So it went. Chunky Roy Fruehauf, the trailer manufacturer, who was worried about $3,000,000 still owed him on a Lustron contract, testified that Rosenbaum had once told him he had RFC Directors Dunham and Willett "in his hip pocket." Rosenbaum bounced back to the stand and denied he had ever said it. Young tried to explain that he is now in the insurance business, claimed he saved one client $40,000 a year on insurance. How? Young couldn't say-he didn't know much about insurance...