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Resource ID: #19504
Subject: Business
Source: Business Week
Date: 2002-10-14



A collection of stories chronicling how WorldCom was a financial deck of cards ready to collapse. The first story showed that founder Bernie Ebbers was out of control--how he cooked the books to show better results and fooled investment bankers. Two days after the first story ran the WorldCom board fired Ebbers. The second story revealed that accounting discrepancies were far higher than WorldCom was admitting--up to $10 billion--and that figure has proved to be true today. The third and fourth stories detailed how WorldCom never really made any money and was the personal tool of its founder.

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