Accountability for a corporate criminal

Difficult as it was to see what it did to 63-year-old WorldCom founder Bernard Ebbers to be sentenced Wednesday to 25 years in prison, that’s exactly what would-be crooked CEOs — and wannabe Wall Street investors — needed to see. Still, it will seem to some like insufficient justice to defrauded former employees and investors of Ebbers’ once-titanic company.
Posted by Rhonda Holman

11 Comments

  1. Joe Williams
    Posted July 14, 2005 at 12:17 am | Permalink

    There is still mixed messages for the corporate world. Although Worldcom, Adelphia, and somewhat Enron.

    Healthsouth got away from scandal, and we will see if Ken Lay gets off.

  2. Joe Williams
    Posted July 14, 2005 at 12:32 am | Permalink

    One more thing! I wish this blog had an edit function. Sometimes I need to edit my post to make a clearer and more understanding statement. :)

  3. Mister Twister
    Posted July 14, 2005 at 1:10 am | Permalink

    Kenneth “Kenny Boy” Lay, President’s most loyal friend a buddy from Texas, saw the biggest defrauding of the American investor in history.

    Still hasn’t even been charged.

    What a coincidence . . .

    Got Martha Stewart though, thank god . . .

  4. Nola
    Posted July 14, 2005 at 6:53 am | Permalink

    JoeHave you tried the preview button beside the post button? There you can fix it before you post it. Just preview it, go back down to your entry and change anything you want to.

  5. Joe Williams
    Posted July 14, 2005 at 7:27 am | Permalink

    Oh! OK! Many thanks Nola, never thought about previewing.

    Edit: Test! Works. :)

  6. Anon
    Posted July 14, 2005 at 7:34 am | Permalink

    Old boy network has been around for a long time and is not going anyplace. Punishment for these guy is going to continue to be few and far between. As long as they keep giving millions to those in office, they will have protection.

  7. Tara C
    Posted July 14, 2005 at 9:18 am | Permalink

    It’s so nice to see justice for crooked Ebbers. But I fear that they’re just making an example of him, and the ineviteable 7,019 crooked CEOs that are sure to follow him will get the slap on the wrist. Including Lay.

  8. Nathan
    Posted July 14, 2005 at 9:52 am | Permalink

    Who are these 7,019 crooked CEO’s?

    Or am I correct in my assumption that you a CEO hater?

  9. Anon
    Posted July 14, 2005 at 9:58 am | Permalink

    Nathan – I think the 7,019 figure was meant to imply many will get a slap on the wrist and not a literal number. Now who is attacking people and not the argument?

  10. Bohica
    Posted July 14, 2005 at 9:58 am | Permalink

    On a personal side, I am elated to see Berny go down. Why? I spent 13 years at Sprint in KC. I was there during the attempted take-over (they called it a merger). It drove stocks down into the dirt. I lost some money in that… but I know I hardly lost any compared to others!!

  11. Tara C
    Posted July 14, 2005 at 10:03 am | Permalink

    When you assume, you make an ass of u and me ;)

    I certainly am not a blind CEO hater. My family members all have excellent jobs, thanks to CEOs. People who invest their own money to create jobs and wealth are admirable. I’m fan of capitalism.

    But with power and money sometimes comes corruption…and I’m saying we haven’t seen the last of crooked CEOs…not even close. Yes, the 7,019 number was random.

    As much as I dig capitalism, I do NOT dig the good ‘ol boy system, and I am a Lay-hater. People like this rarely get punished because they’re so well connected…Ebbers got what was coming to him but I believe I am correct in thinking the flogging will stop with him.