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Crédit Mobilier scandal

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Crédit Mobilier scandal

US financial scandal 1872 in which more than a dozen US congressmen, including the future president James A Garfield, were implicated. It involved corrupt dealings by the Crédit Mobilier construction company at the expense of shareholders in the Union Pacific Railroad company in the late 1860s. When it broke, the affair tarnished President Ulysses S Grant's second term of office (1873-77).
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