[lbo-talk] Barbara Ehrenreich Loses Her Mind

Carl Remick carlremick at hotmail.com
Sat Aug 25 13:46:39 PDT 2007



>From: "Doug Henwood" <dhenwood at panix.com>
>
>It's salutary to be reading Josephson's Robber Barons
>right now. Practically the whole history of the U.S. economy in the
>second half of the 19th century was of securities fraud, stock
>manipulation, and massive booms and busts.

The building of the first US transcontinental railroad is a subject I find endlessly fascinating -- so revealing of the American character in so many ways. No topic in this epic achievement is more enthralling than the financial shenanigans that pervaded the entire enterprise. And no figure was more central to that skullduggery than Dr. Thomas C. Durant (1820–1885), who trained as an ophthalmologist but made his reputation as a serial swindler of Union Pacific Railroad investors -- easily one of the most manic and psychopathic entrepreneurs ever, a guy with a compulsive urge to cheat all of the people all of the time.

Here's my favorite photo of Doc Durant. He's shown standing on the roadbed (awaiting rails) of the Union Pacific at the 100th meridian, Cozad, Nebraska, 1866. The good doctor is depicted staring off into the distance, a lonely visionary no doubt contemplating his next fraud: <http://www.uprr.com/aboutup/photos/graphics/rr_construction/lr_jc-208-end-of-track.jpg>

Carl

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