In a column about horse races, the New York Herald Tribune's Red Smith last week wrote: "Mr. Joe E. Lewis, who says comical things in nightclubs and bets on them at race tracks, is the author of a profound observation made after years of first-hand study. 'I have been rich and I have been poor,' Mr. Lewis says, 'and believe me, rich is better.' There are various ways of getting rich without help from the Federal Housing Administration."
By now, obviously, the FHA scandals have become part of nightclub repertories, Red Smith's column and American folk lore generally. (The tabloids had fun...