In 1936 [Charles] Schwab's agents approached the La Guardia administration in New York, hoping to interest the city in buying his mansion for the official residence of the mayor. […] But Fiorello La Guardia took great pride in the fact that he lived in a modest walkup in Lower New York. He ridiculed the idea of moving into the robber baron's seraglio, telling newsmen that the city much preferred having the tax revenue from the mansion.