111092283733038841

Sweet Sweet Justice!

While many prospered during the 90’s tech boom, myself included, the boom was a hall of mirrors. The debacle could have been prevented had regulators, i.e., the executive branch a.k.a. President Clintion, done their jobs. But, because they didn’t, the judiciary was left to clean up the mess. Thank goodness for the Constitution and the balance of power.

Bernard Ebbers, who built WorldCom from a humble Mississippi long-distance firm into one of the nation’s biggest telecommunications conglomerates, was convicted Tuesday of engineering the colossal accounting fraud that sank the company.

So far the stock analyst Jack Grubman has been punished, and so has Ken Lay of Enron fame. Together with Bernie Ebbers, one can easily say the three people responsible for the largest amount of fraud have been punished. Now, I can only hope some of the smaller fish are caught.

Share on digg

Possibly related posts...

• No Related Post

This entry was posted on Tuesday, March 15th, 2005 at 3:33 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. | 8 views | Trackback | Print this page |

| More from CommonSense