it.broker said, i knew >> cornelius vanderbilt.how did the ladies meet him, and why did they find him? they had a golden mind. they knew he was into spiritualism. tennie was known as having magic healing hands. many people, by then had moved up town. he was 74 years old, and he had bounder.e a he was not faithful to his wife, and tennie was a track death. in 1868, and they did not start their bank until 1870. i think, probably very strongly that he did have an affair with tennie. was a. in between his wife and when he married another woman. he thought the sisters were witty, and funny. her comingstory of into his office and sitting on his lap and him calling her his little sparrow and she called him an old goat to. felt alive with the sisters around him, and he gave them money which was a lot for them. the word on the street was that cornelius vanderbilt was helping them. everyone, the major financiers of that time, wanted to see what they were like. theme came out just to see opening the doors and walking in. >> how many times wer

even though private steamship operator cornelius vanderbilt has come onto the scene and has cut prices, receives no federal subsidies and is operating successfully. congress funds collins because they say well he needs the money to be able to compete with vanderbilt. well he runs a poor operation. eventually he goes bankrupt and congress is very frustrated and cuts them off completely. by the time we have done that we have spent $11 million on steamship subsidies at a time right before the civil war when our total financial debt was $60 million. 20% of the debt is represented in misplace steamship subsidies. >> host: $11 million back when $11 million meant something. >> guest: it really meant something. >> host: to the subsidies mainly cause businesses to make bad business decisions because they take away the element of competition or they take away the element of having to go out and deal with one's customers in a direct and normal market way or are there other kinds of miss incentives that they create that cause these industries to perform badly once they are subsidized? >> guest: fo

the first entrepreneur, cornelius vanderbilt with the steam ship, the fur trade, james j. each hell with that transcontinental railroad. all of those people are very cautious -- cost conscience. trying to produce a product that was going to have to be marketable into it at a competitive price. they're watching the cost. conscious of the competition. and in the case of the entrepreneurs who succeeded, that made the task much more difficult, and that is a concern, i think, today. we may be knocking people out of the market by subsidizing the wrong people. >> host: biological evolution the as charge of evolution. to my star when the metaphors. the marketplace, the mechanism of evolution is death as well. you know, you bring out new coca-cola and masses of people decide they don't want it or my favorite example, a partner. no we wanted to buy it despite all the marketing genius, and development people believing that it was a great product and people were just going to run over themselves to purchase of. and when you half of subsidized industries, and to some extent also charte

bankrolled by cornelius vanderbilt, the richest man in america who was known to be the lover of tennie least all the books say that. they got to him because he believes in spiritualism and they were clairvoyant and decided that -- there was a genuine force in what they could to and also a lot of fake involved and they would be issue or to get is long dead mother talking to him. they managed -- it was so amazing that more than 2,000 stockbrokers came out just to see them on opening day. they came in and they dress alike, they were 7 years apart in age but they had two colts pins behind each year, they cut their hair short, they were just audacious in everything they did and so after that they kept on going and victoria became the first woman ever to address congress, she was trying to prove that because the constitution said citizens and because it said people and because nowhere except in the fourteenth amendment does it ever say mail, that was a throwaway, the second amendment of the fourteenth amendment, the second article which was to make sure no african-americans women could vote

beginning, then part two is when they went to wall street and made their fortune, bankrolled by cornelius vanderbiltho was rumored to be the lover of tennie. they had used their ability as to convince him that they could talk to his long dead mother. vanderbilt was the richest man in the world but he was incredibly superstitious. he also believed in spiritualism. them and they became the first women stockbrokers in the world. that was the beginning curve of their life. part two goes into the development of who they were, the newspaper they started, various other themes. i am forgetting which parts right now. know the trial against henry ward beecher was this high drama and the final one was the siege of london, when they left the united states and married the richest man in london. >> the victorian age, where did it get its name? and how long was it? >> queen victoria started in 1838 and it went until 2001 when her son became the king. she lived forever. >> what did it mean? what did they call it the victorian age? >> she was considered not the virgin queen but her husband died when she was very you