By Professor Emeritus Stuart L. Weiss
Leo Crowley has been identified simply because the administrator condemned via President Truman for removing Soviet lend-lease after V-E Day. Stuart L. Weiss revises this view whereas exploring Crowley’s lengthy, major country and federal profession, emphasizing his carrier as Franklin D. Roosevelt’s guy for all seasons.Weiss bargains successfully with Crowley’s flaws and virtues in addition to these of the administrations he served. Crowley was once proven as chair of the FDIC in 1934 regardless of a cost, unknown to President Roosevelt, that Crowley had devoted fraud as a banker in Wisconsin. Crowley then served with contrast for greater than 11 years because the management two times buried a 1935 Treasury division record that, had it been passed to Wisconsin professionals, may have despatched him to felony: Roosevelt valued Crowley’s political and administrative skills too hugely to permit that to happen.In 1939, Roosevelt, nervous to have company aid for preventing the Axis powers, inspired Crowley to take the chair of a maintaining corporation approximately to be prosecuted via the SEC. After Pearl Harbor, like priorities triggered the president first to call Crowley alien estate custodian, then chair of the Board of monetary war to supplant Roosevelt’s politically complex vice chairman, and, eventually, international financial administrator, the individual answerable for civilian lend-lease activityIn this brilliant biography, Weiss furnishes the reader with exact photos of a guy trustworthy to his president even if he disagreed with him and of a president keen to do what he felt was once invaluable for the great of the rustic. (20080923)
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Additional info for The president's man: Leo Crowley and Franklin Roosevelt in peace and war
He may not have known. As a matter of record, though, his paternal grandparents left Ireland with their first child and his father, Thomas Franklin, at midcentury and settled on a farm some twenty miles west of Madison, Wisconsin. There, while in his twenties, Thomas Franklin was married, favored with two sons, and widowed. After that, detesting farming, he left his sons with his parents and went to southern Wisconsin, where he found work as a section hand on the Chicago, Milwaukee, St. Paul & Pacific Railroad, the same Milwaukee Road his son Leo would chair some sixty years later.
Some knew, some guessed that his bank would have failed had not First National and Bankshares absorbed it. In either case, if they knew about his personal "borrowing," most excused his methods as "shortcuts" other bankers had employed. In any event, his personal loans did not explain the State Bank's problems. Neither did the lightly collateralized loans Crowley had made from compassion for the small farmer and small businessman. When even "sound" property values and collateral had turned Page 16 soft or worse, and banks were failing by the thousands, it was more reasonable to blame the state and nationwide economic collapse than Crowley for his bank's failure.
Bankshares preferred quietly shearing Crowley of his presidency, stock, and $12,000 salary, then working out a long-term settlement of his and his brothers' indebtedness. Other than a few bank directors with an obvious interest in silence, few people seriously thought or, more important, argued publicly that Crowley had abused his office and been terminated. Those who knew, such as Harris Allen, found it in their interest to keep silent. So did those, such as William Evjue, who merely suspected; too many important people would be hurt.
The president's man: Leo Crowley and Franklin Roosevelt in peace and war by Professor Emeritus Stuart L. Weiss