[1] In 1987, two years before his death from throat cancer, he was disbarred for illegal banking operations and tax evasion.

By 1939–1940, Anderson pursued opportunities within the private sector; he and two other partners purchased the City of Austin-based KTBC radio station from the Texas Broadcasting Company.

According to the Seagraves, Anderson was with Douglas MacArthur and Edward Lansdale inspecting the Philippine caves containing Yamashita's gold immediately after World War II ended.

Eisenhower was particularly impressed by Anderson's abilities, believing him to be more than capable of being president himself, and named him as one of his leading choices to be his running mate in 1956 if Vice-President Richard Nixon had accepted Eisenhower's recommendation to leave the vice-presidency to serve as Secretary of Defense.

"[6] In 1959, as Secretary of the Treasury, Anderson supported the creation of the International Development Association, after pressure from then-Senator Mike Monroney (D-Oklahoma).

[8] In 1963, President Kennedy appointed Anderson to a special committee to study the United States foreign aid program.

[9] At the same time, Anderson served as chairman of a Congressional study commission to determine if building a sea level canal through Panama was possible.

[10] After leaving office in 1961, Anderson moved to New York City and was active in business, investment, banking affairs, oil, and real estate.

From 1983 to 1985, he and his partner David B. Gould illegally operated the Commercial Exchange Bank and Trust of Anguilla, British West Indies, which had an unlicensed New York branch office.

In 1987, Anderson, who was charged by Rudolph Giuliani as the United States Attorney for the Southern District of New York, pleaded guilty to criminal violations of the banking laws and to tax evasion, and was sentenced to prison.

[16] The Supreme Court of New York Appellate Division, in disbarring Anderson from the practice of law, called his disbarment "a sad but we think necessary end to the legal career of one who has in times less beclouded by poor and corrupt judgment served his country in high office as Secretary of Treasury, Deputy Secretary of the Navy and as Special Ambassador to Panama during the Panama Canal negotiations.