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Modern Day Robber Barron Gets His Due - Ebbers Is Guilty As Sin

In an article written by Washington Post staff writer Brooke A. Masters in the Washington Post entitled Bernard Ebbers Guilty On All Counts it is reported that:

Former WorldCom Inc. chief executive Bernard J. Ebbers was found guilty on all counts against him -- conspiracy, securities fraud and making false filings with regulators -- for his role in a massive accounting fraud that led to the downfall of the nation's second largest telecommunications firm, costing millions of investors billions of dollars.

Former billionaire Bernie testified that he knew nothing of the accounting irregularities that forced WorldCom into bankruptcy. Even if it is true that he didn't know anything of the irregularities, he should have, and, in addition to the other charges that he has been found guilty of, he should be tried and convicted of defrauding the stockholders by collecting a multi-million dollar salary and not doing his job.

Running publicly traded companies bankrolled by stockholders hard earned money demands that the company officers protect the shareholders investments. That means they have to show up, ask questions, review the work of the staff they are hired to supervise, and make sound decisions. Whether he knew or didn't know, Bernie cost "millions of investors billions of dollars." Bernie is a crook and deserves every minute he spends in jail.

Posted by Rick | March 15, 2005 04:30 PM

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