At first I didn't have the
faintest idea what he was talking about, but the way you find things out
is by listening, so I did. When I got back I talked to Hitchcock about
it, and he told me Carper was trying to get federal legislation passed
that would extend to Hutton Trust and Hutton Bank -- because they had
been chartered outside the period to which the "non-bank bank"
legislation applied -- and then I was able to make sense of what Carper
had said about grandfathering.
3: Paragraph 48 That was around the same time that Hutton Trust
acquired a new personal trust client, a corporation named International
Development Programs Inc., the chairman of whose board was Wilbur Mills.
An AE named John Jennison, in Hutton's C18 office in D.C. where Perry
Bacon was BOM, had a client named Barton F. Walker Jr., who was
president of Walker & Walker Associates, Inc., in Maryland and one of
IDP's principals, so Walker had brought IDP to Jennison. IDP's
president was Thomas M. Owen, whose phone numbers were in Virginia, and
its lawyer was Francis L. Jung, who was also general counsel to American
Pacific Trading Co. in D.C. The chairman of AmPac's board was Conrad K.
Hausman, who was also one of IDP's principals. The other two IDP
principals I dealt with were E. Doug Ward, executive vp of Astrotech
International Corp.
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