The Speculation Economy

SIX MUCH ADO ABOUT NOTHING

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THE FEDERAL INCORPORATION ERA

The long decade from 1900 to 1914 unleashed a flood of corporate reform activity in Congress. No fewer than sixty-two unsuccessful bills embraced federal incorporation or federal licensing. An additional eight attacked overcapitalization and seven more tried to create some form of securities regulation. Six would have protected minority shareholders from abuses by controlling interests, signaling that this new class of public investor was becoming an increasingly influential force in ...