stackyFACTSBack in the Gilded Age, market manipulation wasn't a crime; it was just a spicy Tuesday.
Back in the Gilded Age, market manipulation wasn't a crime; it was just a spicy Tuesday. When rival tycoons tried to hostile-takeover Vanderbilt's railroad dominance, the 'Commodore' secretly shorted the stock and ruthlessly weaponized his own capital to manipulate the supply. He absolutely gutted the shares of the Erie Railroad, almost crashing the New York banking system, entirely to wipe out the fortunes of his enemies. And the SEC didn't even exist to scold him.
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