Teapot Dome scandal Teapot Dome was regarded as the "greatest and most sensational scandal in the history of American politics". It damaged the reputation of the Harding administration, which was already severely diminished by its controversial handling of the Great Railroad Strike of 1922 and Harding's veto of the Bonus Bill in 1922. In the early 20th century, the U.S. Navy largely converted from coal to fuel oil. To ensure that the Navy would always have enough fuel available, several oil-producing areas were designated as naval oil reserves by President Taft. In 1921, President Harding issued an executive order that transferred control of
Salad Oil scandal Salad Oil scandal The Salad Oil scandal, also referred to as the "Soybean Scandal", was a major corporate scandal in 1963 that ultimately caused over $150 million – approximately $1.45 billion in 2017 dollars – in losses to corporations including American Express, Bank of America and Bank Leumi, as well as many international trading companies. The scandal's ability to push otherwise cautious and conservative lenders into increasingly risky practices has prompted some comparisons to recent financial crises including the 2007–2008 subprime mortgage financial crisis. The scandal involved the company Allied Crude Vegetable Oil in New Jersey, led by Anthony "Tino"