Terms for "white man"

["Alfred W. Tüting"]

 >Rory: I'm wondering about MVS terms for "white man".

Da:    was^i'c^uN   (nearly synonymous with wakhaN', according to Riggs.)<<

One very often reads of wasicun <- wa-sicun [wa-s^i'c^uN] <- sicun (i.e.
in the sense given by Riggs).
Yet, in today's Native literature, there's commonly(?) referred to a
different etymology:
was^iN' (fat not dried out, fat meat; pork) +
ic^u' (to take, take up anything; accept, receive) -> 'fat-taker'
(stealer of fat).

What do you think about it? Is it (maybe biased) 'folk etymology'?
(phonologically, this derivation doesn't seem to fit too well.)

Alfred