What was the Union Pacific scandal?
The most infamous political and corporate scandal involving Union Pacific Railroad was the Credit Mobilier scandal of the 1870s. During the construction of the First Transcontinental Railroad, executives of Union Pacific formed a dummy construction company called Credit Mobilier of America and awarded themselves inflated, exorbitant contracts to build the railway, using funds from government subsidies and railroad bonds. To prevent legislative interference, the executives distributed heavily discounted stock to influential members of Congress. The explosive corruption scheme was exposed by the press, resulting in severe political disgrace for prominent politicians and a major national crisis of public trust.
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