Jake Butcher — a Tennessee Tragedy
Yesterday, I discussed the 1982 World’s Fair and one of the primary individuals responsible for the Fair being in Knoxville, Jake Butcher. It has been a while since I thought about Jake Butcher. So, I had to do a little research on him. No doubt, if the blogosphere had been in existence in 1982-’83, it would have been all the buzz about Butcher. In fact, if the blogosphere had been around at any point in the 1970s and early 80s, Butcher would have been a frequent topic of discussion.
Jake Buther’s life would have made a great movie. It still could be … if any of you producer types are reading this post. Butcher and his brother C.H. grew up in Union County, Tennessee, where they learned the banking business. Butcher went to U.T., and then into the Marine Corps. Following his time in the military, he married Sonya Wilde (1962), an actress whose career was on the rise, at the time of the marriage.
Around 1968, Jake and his brother C.H. began buying banks around East Tennessee. By 1974, Jake and his brother had acquired 8 banks, including the region’s largest bank, the Hamilton County Bank (which Butcher turned into the United American Bank). Butcher’s insatiable appetite for power and fortune continued to fuel his growing empire, which, at one point, was responsible for 50% of all loans, in Knoxville.
While Butcher’s business resume continued to flourish, his political resume developed. In 1974, Jake ran for Governor, but lost to Blanton in the Democratic primary. The Butcher brothers continued to be a powerful force in Democratic circles throughout the mid-70s. Butcher ran again for Governor, again, in 1978, and received the Democratic nomination. He, ultimately, lost to Lamar Alexander. But, due to Blanton’s scandal involving his pardoning of criminals with the Tennessee Parol Board, Lamar Alexander had to be brought into office early.
Though Butcher lost the 1978 election, he continued to remain a powerful force. And, in 1982 he was instrumental in bringing the World’s Fair to Knoxville. Around this time, federal regulators began to investigate unlawful banking practices in East Tennessee. Their trail ultimately led to the doors of the Butcher banks. In 1985, Butcher and his brother pled guilty to charges of bank fraud, after federal regulators and state authorities discovered that the Butcher empire was merely a crumbling house of cards built on forged documents, bad, unsecured loans, and sheer fraud.
Butcher served 7 years of his sentence. He was released in 1992. According to reports, he resettled to an area in Georgia, where he has worked for a Toyota dealer and also as a real estate developer.
The Butcher story is truly a sad Tennessee tragedy. At one point, many people would probably have argued that Jake Butcher was the most powerful man in the State of Tennessee. He truly saw the heights of success and the depths of despair. I would be curious to know more about Butcher’s life, today. Is he still married, etc.? Has anyone had any encounters with him, over the years?
The city of Knoxville is still filled with the legacy and ghosts of Jake and his brother (who passed away in 2002). While I was in school in Knoxville, I was told that - at their financial height - the Butcher brothers each had one of the 2 large towers that fill the Knoxville skyline today. To find out about the Butchers, you simply have to ask a few Knoxville locals. Many people met their financial ruin due to the fraud and dishonesty of the Butcher brothers. And, though people in Nashville have, largely, forgotten about the Butcher brothers, many people in Knoxville will never forget. Can you see why I think that this would be an excellent movie?
Butcher has impacted politics in Tennessee - and maybe even nationally - forever. Many have said that Fred Thompson’s political success is, partially, due to the face recognition provided by his movie career. But, Fred owes his movie career - partially - to Butcher’s failures. Had Jake Butcher defeated Blanton in 1974, there would have been no Thompson movie career, because there would have been no Blanton scandals (Perhaps, though, there would have been Butcher scandals!).
Fred’s first role came in a movie called Marie. Fred played himself as the attorney for Marie Ragghianti, the employee of the Tennessee Parole Board who took on the corrupt Governor Blanton. The movie was criticized by many - all except for a first-time actor by the name of Fred Thompson.
Fred Thompson’s movie career is not the only enduring legacy of Jake Buther. When you drive through Knoxville and look at the Sunsphere or World’s Fair Park, you can think of Jake Butcher. He represents all that is great about America. He represents the fact that someone in this country can rise to the heights of power - from somewhat humble beginnings. But, he also represents the hubris and the potential for corruption by those who pursue power and financial fortunes at all cost. In a sense, he is a reflection of what is best about us as Americans, as well as what is worst about us as humans.
I would be interested in hearing any comments that anyone has about Jake Butcher, any interactions that they have had, as well as any memories that you would like to recall.