What does CM mean in ACADEMIC DEGREES

Credit Mobilier was a financial company created by the directors of the Union Pacific Railroad to help finance the construction of the Transcontinental Railroad in America. In essence, it was a way for them to make money from their own railroad while also financing its construction.

Credit Mobilier worked by issuing bonds to investors and using the profits from those investments to fund the construction of the railroad. It was an effective way to finance large infrastructure projects such as this one.

One criticism of Credit Mobilier has been that those in charge of it used it as a means to line their own pockets and that profiteering rather than public service motivated its creation.

Yes, despite some criticism, Credit Mobilier was widely seen as a success because it enabled Union Pacific executives to both make personal profits and use those profits to finance much needed railway infrastructure projects throughout America.

The downfall of Credit Mobilier can be attributed largely to a Congressional scandal in 1872 involving reports that high-ranking officials had received shares in insider deals associated with CreditMobilierexchange for political favors. This scandal sparked public outcry and eventually led to the dissolution of the company in 1873.

Yes, several people were arrested over the scandal though none were convicted due to lack of evidence and hasty prosecutions. Nevertheless, this event helped shape public opinion on such matters going forward.

There are several modern companies involved with financing large scale infrastructure projects today such as Infrastructure Capital Group which provides project financing solutions on international scale.

Yes, there are multiple sources available online written about or related to CreditMobilierexchange such as Herbert Myrick’s A History Of The Union Pacific Railroad (1898). Furthermore, many old newspaper articles remain available detailing some aspects of its history as well.

Yes, many documents pertaining directly or indirectly to this company remain archived at various universities across America including Harvard University which houses one compilation titled “The Papers That Brought Down A Corporation” containing primary source documents from 1872-1873.