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Credit Mobilier
Credit card companies earn profits by charging interest.
A bank's profits go to the bank and its chief officers. The profits of a credit union go back to its members.
union pacific
The scandal which took place for eight (8) years beginning in 1864 and coming to light in 1872 involved the Union Pacific Railroad (UPR) and the Credit Mobilier of America (CMA) company. Stock and cash bribes were paid to congressmen in order to overlook that the same owners of the UPR and CMA were constructing the railroad falsely representing the "independent" nature of UPR selecting the construction company for the building of the first Transcontinental Railroad. In essence, CMA and UPR conspired to charge the government far more than the cost to build the railroad in order to keep the profits to themselves.
Mmm im not sure but it may be the credit crunch.
Seek to make profits
In 2003 the profits for credit card companies was estimated at 30 billion dollars.
Profits and liabilities are both credit entries on a balance sheet. They show how the assets (debits) of the company have been generated.
Known as the Credit Mobilier Scandal, this involved the Union Pacific railroad.
Known as the Credit Mobilier Scandal, this involved the Union Pacific railroad.
a fake company set up by a railroad to make more money.