Worldcom Meltdown A current event speech. Describes the history of Worldcom and the downfall
Good Morning. On August 1, 2002 two men were indicted in a Federal Court House. These men aren't violent criminals, but they both face up to 25 years in prison. The two defendants hid a huge company's 41 billion dollars in debt from millions of investors and from the Securities and Exchange Commission. They caused a huge company to fall where it stood. If the woes of a bad economy weren't enough, large corporations are being cited for false …
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…July 21, 2002 when the company files for chapter 11 bankruptcy protection.
In conclusion, decisions of few men can affect a nation and its economy. Many people lost their jobs and their money. Lack of morals and greed enabled the company's leaders to lie and deceive its investors. The description of greed can be displayed in a quote from Mohandas Gandhi who wrote "There is a sufficiency in the world for man's need but not for man's greed."
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