When Printing Stock Was Legal and Courts Were For Sale скачать в хорошем качестве

When Printing Stock Was Legal and Courts Were For Sale

Subscribe in 1-click:    / @historyhasconsequences   March 10th, 1868. Two men fled across the Hudson River carrying $6 million in cash and the printing plates for Erie Railroad stock certificates, chased by police holding warrants signed by judges Cornelius Vanderbilt controlled. For the next month, they ran a major American railroad from a fortified New Jersey hotel while Vanderbilt — the richest man in America — stood helpless on the Manhattan shore, unable to cross state lines. This was the Erie War, and it exposed a truth that would reshape American capitalism: the country had corporations, but it didn't have corporate law. This video reveals how Jay Gould and Jim Fisk exploited a legal void so profound they could print unlimited stock, dilute America's most powerful industrialist into bankruptcy, bribe an entire state legislature in broad daylight, and do it all legally. You'll see how Vanderbilt spent $7 million trying to buy a railroad while his opponents created shares faster than he could purchase them — and how their success proved that American business had outgrown the legal framework designed for small partnerships and trading companies. Every protection you have as a shareholder today exists because of what happened when those protections didn't exist. The Securities Act of 1933. The Securities Exchange Act of 1934. The SEC. Fiduciary duty standards. Restrictions on self-dealing. Requirements for shareholder approval of stock issuance. These weren't imposed by socialists — they were demanded by capitalists who realized unregulated markets had become unusable even for the wealthy. Three men fled with a printing press. The laws created to stop the next ones are still governing American finance today. 📑 CHAPTERS 0:00 - Introduction 0:55 - Vanderbilt's Takeover Attempt 1:58 - The Printing Press Strategy 3:37 - Flight to Fort Taylor 5:37 - Buying the Legislature 8:07 - The Pattern and Its Consequences 11:31 - The Regulatory Legacy 📜 SOURCES & REFERENCES Charles Francis Adams Jr. – "Chapters of Erie" (1871) Marengo Gordon – "The Erie Railroad Conspiracy" (1868) Charles R. Geisst – "Wall Street: A History" (2004) H.W. Brands – "American Colossus: The Triumph of Capitalism, 1865-1900" (2010) Ron Chernow – "The House of Morgan" (1990) New York Times – Contemporary Coverage (February-July 1868) New York State Legislature – Assembly Journal (April 1868) #eriewar #jaygould #gildedage #wallstreet #stockmarket #corporatehistory #securitieslaw #financialhistory #americanhistory #monopoly #vanderbilt #SEC #capitalism #documentary