Word: lustron
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Close on the heels of the influence-peddling probe came the Reconstruction Finance Corp. scandals and a whole raft of new names. The Lustron Corp., a manufacturer of prefabricated houses, had received RFC loans totaling $37.5 million, much of which had been approved by Loan Examiner E. Merl Young, who resigned and emerged as an $18,000-a-year Lustron official, was later convicted of perjury (18 months in jail). Young's wife Lauretta, a White House secretary until April 1951, received a $9,000 mink coat paid for by a lawyer representing firms that longed for RFC loans...
...investigate a number of questions raised by Benton and others, including: 1) Were funds received by McCarthy to fight Communism diverted to his personal use? 2) Did McCarthy use his position as a member of the Senate Banking and Currency Committee to obtain a $10,000 fee from the Lustron Corp.? 3) Were close associates and relatives of McCarthy used, for ulterior motives, to secrete financial transactions...
...Senate as a whole, the Watkins committee found. Said the report: "The conduct of Senator McCarthy has been contumacious toward the Senate by failing to explain . . . questions raised in the subcommittee's report . . . Senator McCarthy has given to the Senate, on the Senate floor, an explanation of the Lustron matter only.* It is our opinion that the failure of Senator McCarthy to explain to the Senate these matters . . . was conduct contumacious toward the Senate and injurious to its effectiveness, dignity, responsibilities, processes and prestige...
...said that Lustron paid him the $10,000 for a pamphlet on housing...
...McCarthy, Joe's enemies were well aware that a move was afoot to send the motion to committee. Arkansas' Democratic J. William Fulbright had tried to buttress Flanders' generalized motion with a specific six-count amendment, which included the old charge that Joe had shaken down Lustron Corp. to collect a $10,000 fee for writing a housing booklet. Republican Leader William Knowland moved to refer the censure motion to a select committee of three Republicans and three Democrats...