CREDIT MOBILIER Meaning and
Definition
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Credit mobilier refers to a term that has different interpretations depending on the context in which it is used. In a business or financial context, Credit mobilier is an investment and financing company that specializes in providing funds or credit facilities for various projects, particularly infrastructure development or large-scale construction. This company typically mobilizes funds from various sources, such as banks, individuals, or other financial institutions, to invest in these projects.
Alternatively, Credit mobilier can also refer to a controversial episode in American history during the 19th century. In the mid-1800s, the Union Pacific Railroad formed a subsidiary company called Credit Mobilier of America to undertake the construction of the transcontinental railroad. However, this subsidiary was involved in numerous fraudulent activities, including inflating construction costs and selling shares to politicians at discounted prices.
The scandal surrounding Credit Mobilier of America sparked public outrage and led to investigations, revealing widespread corruption and bribery among politicians who had received shares of the company at lower prices. This scandal highlighted the close ties between big businesses and politics during that era and resulted in significant reforms in campaign financing and ethics regulations.
Overall, the term Credit mobilier can have two distinct interpretations, either as an investment and financing company specializing in infrastructure projects or as a historical scandal involving fraudulent activities during the construction of the transcontinental railroad in the United States.
Common Misspellings for CREDIT MOBILIER
- xredit mobilier
- vredit mobilier
- fredit mobilier
- dredit mobilier
- ceedit mobilier
- cdedit mobilier
- cfedit mobilier
- ctedit mobilier
- c5edit mobilier
- c4edit mobilier
- crwdit mobilier
- crsdit mobilier
- crddit mobilier
- crrdit mobilier
- cr4dit mobilier
- cr3dit mobilier
- cresit mobilier
- crexit mobilier
- crecit mobilier
- crefit mobilier
Etymology of CREDIT MOBILIER
The term "Credit mobilier" is a French term that translates to "mobile credit" in English. "Credit" refers to the concept of lending or granting money, while "mobilier" means movable or mobile. The term was used in the 19th century to describe a type of financial institution or company that provided loans and financial services, particularly in relation to the development of railway projects.
The term gained prominence through a specific company known as the "Crédit Mobilier of America". Founded in 1864, it was a construction company closely associated with the Union Pacific Railroad in the United States. The company's primary purpose was to finance and oversee the construction of the railroad. However, it soon became involved in various controversies, including allegations of corruption and improper financial practices.
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