Word: fea
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...Crowley was in the midst of the Anglo-American economics talks (see INTERNATIONAL) when he sat down and wrote out his resignation from FDIC, a post he had held since the dark days of 1934. In his letter to the President he said nothing about resigning from FEA, but Harry Truman promptly accepted his resignation from both jobs. Then the President wiped out FEA, handed its most important functions to the State Department...
...branch of Leo Crowley's FEA, the Government-owned U.S. Commercial Co., will sell the paintings to U.S. buyers...
What device would replace Lend-Lease? There was still no firm policy, but Leo Crowley's FEA experts had long considered plans for long-term loans and mutual-assistance credits. In some cases loans might be made without interest. Whatever the name or method of bookkeeping, it was another hot potato for the Truman administration to handle-and Congress was certain to raise more Santa Claus objections...
Most of the cargo was for private traders, who have every reason to expect a fast, profitable turnover. Soon FEA hopes to ship 30,000 tons a month, hopes that this will check the inflation until the Islands' economy can be started toward restoration. But it will take hundreds of ships and many more thousands of tons before the Islands can really be started on the road back. Until the war is over and ships are freed for peacetime traffic, the Philippines will get only a few drops of the medicine they direly need...
...Said FEA's Leo Crowley, who had a part in drafting "revised directive 1067": "We are going to have a tremendous policing job and we will be busy at it for years. I predict that some people will get mighty tired of it, and there will be a campaign to get us out of Germany...