Yet Another Accounting Scandal

from the when-will-these-people-learn? dept

It was obvious already that Worldcom is in trouble. That’s not much of a surprise. But, now we find out that along with the usual sorts of trouble, they may have made up $4 billion or so on their financial statements. Not surprisingly, the CFO has been fired. Maybe I’m naive, but for the life of me, I still can’t figure out why all of these companies think they’ll get away with this sort of stuff. The number of companies doing shady deals is absolutely incredible. Hopefully (though, probably not very likely), all of these recent scandals will cause some changes to be made to clean up corporate America.

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