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Revision as of 04:23, 15 October 2004 editDino (talk | contribs)Administrators14,020 editsm Some stuff so badly written & spelled that I simply got rid of it← Previous edit Revision as of 12:56, 21 October 2004 edit undoGCarty (talk | contribs)Extended confirmed users17,070 editsmNo edit summaryNext edit →
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In the ], a '''carpetbagger''' was a Northerner who traveled to the South after the ], through the late ] and the ]. They were so named after the habit of carrying belongings in a ]. Since many Southern business and political leaders were ousted from their positions as a result of the war, there was much personal gain to be found by travelling south, and many of these carpetbaggers became ]s, ]s, and business leaders.
==American usage==


In subsequent years, the term has come to be used in the United States as a derogatory term for a politician who moves to another state for political reasons, such as ease of election.
In the ], the derisive term '''carpetbagger''' was used to refer to a Northerner who traveled to the South after the ], through the late ] and the ], during ]. They went south to exploit the power vacuum created by the end of the ] when the Confederate States (see: ], ]) were placed under martial law. The carpet-bagging ]s typically intended to gain political or financial advantage, commonly perceived by native Southerners as being at the expense of the native Southerners (which, unfortunately, was more often true than not).


Carpetbagging was also used in the ] in the 1990s during wave of flotations of ] (mutuals), as a derogatory term for the advocates of these convertions. Investors in these mutuals would receive shares in the new public companies, usually distributed at a flat rate, thus equally benifiting small and large investors, and providing a broad insentive for members to vote for conversion-advocating (carpetbagging) leadership candidates.
The South was devastated as a result of the war. Due to resentment toward the carpetbaggers during ], Southerners clung to the sentiment "The South will rise again!", which is actually still quite common among most people born and raised in The South.


Major building societies which converted included:
''Carpetbaggers'' are not to be confused with '']s'', who were southern sympathizers with the ].
]
]
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]


Carpetbaggers were so named after the habit of carrying belongings in a ]. Since many Southern business and political leaders were ousted from their positions as a result of the war, there was much personal gain to be found by travelling South, and many of these carpetbaggers became ]s, ]s, and ] leaders.


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Today, the word is still used to describe "an outsider who moves someplace to exploit the natives and enrich himself at their expense," or "a politician who moves to another state for political reasons, such as ease of election."

==UK usage==

Carpetbagging was also used in the ] in the 1990s during the wave of flotations of ] (mutuals), the term indicating the advocates of these conversions. Investors in these mutuals would receive shares in the new public companies, usually distributed at a flat rate, thus equally benefiting small and large investors, and providing a broad incentive for members to vote for conversion-advocating (carpetbagging) leadership candidates. The word was first used in this context by the chief executive of one of the building societies under threat, who introduced rules removing new savers' entitlement to potential windfalls and stated in a press release, "I have no qualms about disenfranchising carpetbaggers."

Major building societies which converted included ], ], ] and ].

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For the ] novel, see '']''. Here, the word has the generic meaning of a presumptuous newcomer who enters a new territory seeking success. In this case, the territory is the movie industry, and the newcomer is a wealthy heir to an industrial fortune who, like ], simultaneously pursued aviation and moviemaking avocations.

Revision as of 12:56, 21 October 2004

In the United States, a carpetbagger was a Northerner who traveled to the South after the American Civil War, through the late 1860s and the 1870s. They were so named after the habit of carrying belongings in a carpet bag. Since many Southern business and political leaders were ousted from their positions as a result of the war, there was much personal gain to be found by travelling south, and many of these carpetbaggers became mayors, governors, and business leaders.

In subsequent years, the term has come to be used in the United States as a derogatory term for a politician who moves to another state for political reasons, such as ease of election.

Carpetbagging was also used in the United Kingdom in the 1990s during wave of flotations of building societies (mutuals), as a derogatory term for the advocates of these convertions. Investors in these mutuals would receive shares in the new public companies, usually distributed at a flat rate, thus equally benifiting small and large investors, and providing a broad insentive for members to vote for conversion-advocating (carpetbagging) leadership candidates.

Major building societies which converted included: Northern Rock Halifax Bradford and Bingley Woolwich


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