Skip to main content

Simon Cameron

A 19th-century blueprint for the savings-and-loan scandal

It was a banking system. The act that made it possible slipped through Congress with hardly any debate and little attention to economic reality. Many of its highest-ranking officials knew little or nothing about the peculiar nature of the banking business.

Enjoy our work? Help us keep going.

Now in its 75th year, American Heritage relies on contributions from readers like you to survive. You can support this magazine of trusted historical writing and the volunteers that sustain it by donating today.

Donate