Word: wyatt
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...many a month had Washington whiffed such a steamy mess. Smack in the middle of it was Housing Boss Wilson Wyatt's huge emergency housing program. And at the rate the pot was boiling, the big plan would soon be cooked...
...Boss Wyatt was the one who put the pot on the fire. He wanted RFC to lend up to $90,000,000 to eleven companies, some of which had never built houses, to build prefabricated houses and housing parts. Biggest loan would go to Chicago's Lustron Corp., along with a lease on Chicago's RFC-owned Dodge-Chrysler plant (TIME, Nov. 11). RFC's roly-poly George Allen said flatly: no. Most of the companies were putting up negligible security, might make as much as 14,000% profit if the loans went through...
Crying "emergency," and down with such businesslike considerations for RFC cash, Wyatt rushed to the White House. So did Allen. When they came out, they smiled sweetly, said: "We are in complete disagreement...
What would decontrol do in the nation's most pressing shortage and biggest black market-housing? It would probably be impossible to maintain the $10,000 sales price ceiling on new houses-the nub of Wilson Wyatt's program for veterans' housing. Instead, the Housing Authority's emphasis might be put on incentives to construct low-rental units...
When NHA asked RFC to lend Lustron $32 million, RFC also balked. RFC said that Lustron was putting up too little of its own cash. Promptly Wilson Wyatt twirled his blackjack again. He threatened to lay into RFC with another "directive...