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Had Jay Gould put his name on a university or concert hall, he would undoubtedly have been a household name today. The son of a poor farmer whose early life was marked by tragedy, Gould saw money as the means to give his family a better life...even if, to do so, he had to pull a fast one on everyone else. After entering Wall Street at the age of twenty-four, he quickly became notorious when he paralyzed the economy and nearly toppled President Ulysses S. Grant in the Black Friday market collapse of 1869 in an attempt to corner the market on gold--an event that remains among the darkest days in Wall Street history. Through clever financial maneuvers, he gained control over one of every six miles of the country's rapidly expanding network for railroad tracks--coming close to creating the first truly transcontinental railroad and making himself one of the richest men in America.
American Rascal shows Gould's complex, quirky character. He was at once praised for his brilliance by Rockefeller and Vanderbilt and condemned for forever destroying American business values by Mark Twain. He lived a colorful life, trading jokes with Thomas Edison, figuring Thomas Nast's best sketches, paying Boss Tweed's bail, and commuting to work in a 200-foot yacht.
Gould thrived in an expanding, industrial economy in which authorities tolerated inside trading and stock price manipulation because they believed regulation would stifle the progress. But by taking these practices to new levels, Gould showed how unbridled capitalism was, in fact, dangerous for the American economy. This "gripping biography" (Fortune) explores how Gould's audacious exploitation of economic freedom triggered the first public demands for financial reforms--a call that still resonates today.
Kurtis Hanni is a small business CFO.
Jay Gould is a 19th-century character who amassed a fortune that rivaled the Rockefeller, though not always through the most above-board methods. Great read on an interesting character.
We are a veteran business (U.S. Army) specializing in media relations, crisis comms & writing. Host of “Leaders and Legends” history podcast.
New "Leaders and Legends" podcast (#206): Greg Steinmetz, Author of “American Rascal: How Jay Gould Built Wall Street’s Greatest Fortune” https://t.co/BYlUvmYK7m https://t.co/xxIWfxha19
#SocialSector Innovation and Impact • Life, Art, Music, Shenanigans • Alum @Columbia, RWU
Just finished #reading @steinmetz_greg's recently released book AMERICAN RASCAL on robber baron Jay Gould. Absolutely fascinating read! More, @simonschuster: https://t.co/QTMy8jOrxQ https://t.co/lRiWkGCTQx