Worldcom

For Capitalism to Survive, Crime Must Not Pay

Bruce Judson | Posted 04.13.2012

Read More: Competition, Financial Industry, Robo-Signing, Financial Reform, Financial Crisis, Capitalism, Economic Inequality, Financial Regulation, Worldcom, Business News
Bruce Judson

A corporation that knowingly breaks the law will find ways to profit through illegal means that are not available to competitors. As a consequence, the competitive playing field is biased toward the company that does not need to follow the rules.

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Breaking the Code of Omertà at Goldman Sachs

Joseph A. Palermo | Posted 05.19.2012

Read More: JP Morgan Chase, Citigroup, President Obama, Banks, Enron, Mafia, Bankers, Phil Angelides, New York Mayor Michael Bloomberg, Occupy Wall Street, Greg Smith, Dodd-Frank, Ed DeMarco, Omertà, Goldman Sachs, Wall Street, Worldcom, Rico, La Cosa Nostra, Mafiosi, Greg Smith Goldman Sachs, Lloyd Blankfein, Michael Bloomberg, Banking, Business News
Joseph A. Palermo

Greg Smith violated the ancient code of all mafia organizations: he spilled the game to the public. His former colleagues at Goldman Sachs no doubt now see him as a "rat."

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The 5 Biggest Wall Street Scams of All Time

InvestingAnswers | Posted 12.06.2011

Read More: Worldcom, Wall Street, Kenneth Lay, Bernie Madoff Victims, Scam, Enron, Qwest, Bernie Madoff, Bernie Madoff Ponzi Scheme, Business News
InvestingAnswers

There are only a few things you can count on in the world: death, taxes and Wall Street scams. Here are five of the biggest Wall Street scams of all time.

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Why the Tea Party Is Wrong

Jeff Schweitzer | Posted 09.04.2011

Read More: Worldcom, Putnam Investments, Goldman Sachs, Tyco, Tea Party, Subprime Mortgages, Wall Street, Enron, Debt Default Swaps, Corruption, Government Regulation, Private Sector, Capitalism, Government Oversight, Politics News
Jeff Schweitzer

We have developed an American myth about the magical efficiency of market forces and have deified entrepreneurs. We have developed a disdain for government as an obstacle to progress. Neither is entirely true or false.

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Anthony Weiner Hands Republicans a Twofer

Joseph A. Palermo | Posted 08.06.2011

Read More: JP Morgan Chase, Bill Clinton, Massey Energy, Anthony Weiner, American Crossroads, Karl Rove, Enron, Congress, Larry Craig, Democrats, Adelphia, Mcwayne-Foundry, Worldcom, Arnold Schwarzenegger Love Child, Goldman Sachs, Aig, Bank of America, Tyco, Arab Spring, Lehman Brothers, John Edwards, Shirley Sherrod, Republicans, Andrew Breitbart, Politics News
Joseph A. Palermo

The wars drag on, the economy teeters, climate change unfolds just as the scientists predicted, and the yawning gap between the rich and the rest of us continues to grow. And what are we left with? The spectacle of a guy named Weiner doing naughty things.

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Yepoka Yeebo

SEC May Make It Easier (For Some) To Buy Into The Next Facebook

HuffingtonPost.com | Yepoka Yeebo | Posted 06.11.2011

Read More: Shares, Initial Public Offerings, Mary Shapiro, Worldcom, Mike McGrath, Enron, Facebook, Private Companies, National Venture Capital Association, Lawrence Goldstein, Santa Monica Partners, Goldman Sachs, Emily Mendell, Mashable, Stock, Pen Parr, Nelbee, Sec, Securities and Exchange Commission, Public Companies, 499 Rule, Small Business America, Business News

NEW YORK -- It may soon become a lot easier for startups to raise capital -- and avoid the regulatory scrutiny and costs associated with going public....

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Blame Wall Street, Not Hard Working Americans, for the Pension Funds Fiasco

William S. Lerach | Posted 05.25.2011

Read More: Pensions, Wisconsin, Wall Street, Wisconsin Protests, Pension Funds, Economy, Bear Market, Sec, Recession, Worldcom, 1929 Stock Market Crash, Deregulation, Enron, Politics News
William S. Lerach

What came from this era of de-regulation? Increased competitiveness, economic growth, wealth and prosperity? No -- instead we got repeated waves of financial fraud and wealth destruction.

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Feds Catch Fugitive In Enron-Like Case Hiding In Mexico

AP | ANDREW WELSH-HUGGINS | Posted 05.25.2011

Read More: Worldcom, Rebecca Parrett Caught, Enron, Rebecca Parrett, Corporate Fraud, Rebecca S. Parrett, National Century Financial Enterprises, Business News

COLUMBUS, Ohio — A fugitive on the loose for more than two years following her conviction in a $1.9 billion corporate fraud case was back in the Uni...

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Lehman Lawyer Fees Close To $2 Billion

DailyFinance | MELLY ALAZRAKI | Posted 05.25.2011

Read More: Chapter 11, Lawyers, Worldcom, Financial TImes, Lehman Lawyers, Lehman Brothers, Enron, Lehman Brothers Bankruptcy, Lehman Lawusit, Kenneth Feinberg, Business News

It seems there are always those who gain from others' misery. In this case, the lawyers and accountants circling Lehman Brothers stand to make more th...

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Supreme Court Shoots Down Part Of Key Post-Enron Reform

AP | Posted 05.25.2011

Read More: Supreme Court, Worldcom, Tyco, Enron, Supreme Court Rulings, Sarbanes-Oxley, Constitution, John Roberts, Business News

WASHINGTON — The Supreme Court on Monday struck down part of the anti-fraud law enacted in response to the Enron and other corporate scandals fr...

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Final Audit: A Trail of Greed and Revenge!

Jim Worth | Posted 05.25.2011

Read More: Corruption, Greed, Tyco, Bankruptcy, Worldcom, Prison, Avarice, Enron, Executives, Adelphia, Books News
Jim Worth

Though entertaining, the compelling message in Final Audit is that greed, corruption and immoral and unethical behavior should not go unpunished.

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Goldman = WorldCom = 80+ Senate Votes

Mark Green | Posted 05.25.2011

Read More: Worldcom, Financial Regulatory Reform, Goldman Sachs, Senator Brown, Senator McConnell, President Obama, P, Wall Street, Enron, Consumer Protection Agency, Consumer Finance Protection Agency, Public Citien, President Bush, President Carter, Senator Dodd, Politics News
Mark Green

As Obama today returns to Cooper Union to reprise his arguments for financial regulatory reform, we know this: whatever the ultimate legal merits of the SEC's case against Goldman Sachs, the political impact now will be a game changer.

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The Real Culprits of the Euro Crisis

Joshua Rosner | Posted 05.25.2011

Read More: Goldman Sachs, Eurozone, Worldcom, Wall Street, Greece, Lehman Brothers, Greece Debt Crisis, Enron, Greece Debt, European Union, Bear Stearns, Europe, Euro, Business News
Joshua Rosner

So here we go again. To uncover the real culprits of the current euro crisis we first have to follow a common thread of this crisis -- government borrowers who need capital hire bankers.

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Biggest Accounting Scandals Of All Time (PHOTOS)

Posted 05.25.2011

Read More: Richard Scrushy, Worldcom, Frank DiPascali, Enron, Healthsouth, Accounting Fraud, Aig, Repo 105, Freddie Mac, Accounting Scandals, Madoff, Lehman Brothers, Waste Management, Slidepollajax, Business News

Got a creative impulse? Accounting may be the profession for you! As you'll see from the below collection of massive book-cooking frauds, there may...

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The Volcker Rule & AIG: Hedge Funds, Prop Desks Are Not The Problem

Institutional Risk Analytics | Posted 05.25.2011

Read More: Enron, Aig, Worldcom, Paul Volcker Barack Obama, Paul Volcker, Hedge Funds, Aig Bonuses, Business News

There are certain basic things that the investor must realize today. In the first place, he must recognize the weakness of his individual position... ...

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Great Houses of New York: River House, the Best Address, Part IV

Michael Henry Adams | Posted 05.25.2011

Read More: Gloria Vanderbilt, Bobby Short, Marta Raymond, Anderson Cooper, Jeanette Dempsey, Adele Astaire, Barbara Taylor Bradford, Worldcom, Carol Marcus, John Gutfreund, Corcoran Group, Fritz Kritzler, Gordon Parks, Hubert De Givenchy, Huntington Hartford, William Saroyan, Robert Bradford, The Great Depression, Francesco Galesi, Maureen Orth, Salomon Brothers, Butterfield Eight, The Stork Club, Ellen Kourtides, Susan Gutfreund, Joshua Logan, Robert Postel, Henry Luce, The Dakota, Marshall Field, Evelyn De Rothschild, World War II, New York News
Michael Henry Adams

As late as 1970 no apartment sale in New York had ever exceeded $1,000,000. At today's River House, indeed, there is none for less.

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To "Americans for Prosperity" Capitalism Is a Love Story

Joseph A. Palermo | Posted 05.25.2011

Read More: Tim Phillips, C-Span, David Koch, President Obama, It's a Wonderful Life, Ann Coulter, Enron, Frank Capra, Koch Industries, Newt Gingrich, Capitalism, Tsa, Savings and Loan Scandal, The 2016 Olympic Games, Henry Clay Frick, Cnbc, Tyco, Free Market Fundamentalism, Americans for Prosperity, Laura Ingraham, Worldcom, Afp, Larry Kudlow, Supply-Side Economics, Knights of Labor, National Defending the American Dream Summit, Megan McCain, Long-Term Capital Management, John Birch Society, Pinkertons, Politics News
Joseph A. Palermo

The only distinguishing feature of the Americans for Prosperity Foundation's "National Defending the American Dream Summit" was its astonishing homogeneity both in thought and in demography.

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A Decade Far Worse Than a "Big Zero" (1999-2009)

Joseph A. Palermo | Posted 05.25.2011

Read More: Big Zero, Lloyd Blankfein, Global Crossing, Enron, Gramm-Leach-Biley Act, The 2000s, George W. Bush, Newt Gingrich, Worldcom, Goldman Sachs, Robert Rubin, Tyco, President Bill Clinton, Bob Dole, Paul Krugman, Joe Lieberman, 1999-2009, Corporate Power, Worse Than Zero Decade, Politics News
Joseph A. Palermo

We can call the 2000s the "Worse Than Zero" decade or the "Big Zero," or anything we wish, but what characterized it most for me was the near total control of corporations, especially over our civic institutions.

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Shahien Nasiripour

White House Quietly Working To Weaken Investor Protection

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: John Adler, Investor Protection, Worldcom, Financial Reform, Enron, Sarbanes-Oxley Act, Financial Crisis, Consumers, Securities and Exchange Commission, Financial Regulation, Carolyn Maloney, Investors, Business News

The White House is quietly working to undercut a key post-Enron reform, significantly weakening protection for everyday investors and threatening the ...

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Sarbanes-Oxley Act: Amendement To Exempt Smaller Business Passes House Financial Services Committee

Rolfe Winkler | Posted 05.25.2011

Read More: John Adler, Sarbanes-Oxley Act, Enron, Regulation, Worldcom, Securities and Exchange Commission, Consumer Protection, House Financial Services Committee, Business News

An amendment that would permanently exempt small public companies from complying with a key provision of the Sarbanes-Oxley Act advanced in Congress t...

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Fixing One Wall Street Scandal, Forgetting the Last

Rep. John Sarbanes | Posted 05.25.2011

Read More: Worldcom, Wall Street Crisis, Wall Street, Financial Reform, Enron, Sarbanes-Oxley Act, Sarbanes-Oxley, Financial Regulation, Business News
Rep. John Sarbanes

When companies of any size choose to access the capital markets, they hold themselves to a higher standard. Investors deserve the same level of reliable financial reporting from all public companies.

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Shahien Nasiripour

House Democrats John Adler, Carolyn Maloney Move To Weaken Investor Protection Bill

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: John Adler, Worldcom, Financial Reform, Enron, Sarbanes-Oxley Act, Financial Crisis, Consumers, Securities and Exchange Commission, Financial Regulation, Investors, Carolyn Maloney, Business News

Two House Democrats are planning to introduce amendments Tuesday to exempt small- and medium-sized companies from a key post-Enron reform. Consumer ad...

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Shahien Nasiripour

House Panel Votes To Permanently Exempt Small Firms From Part Of Post-Enron Law

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Worldcom, Scott Garrett, Arthur Levitt, Barney Frank, Enron, Obama Administration, Investors, John Adler, Rahm Emanuel, Mary Schapiro, Sarbanes-Oxley Act, Financial Crisis, Sec, Securities and Exchange Commission, Business News

A House panel voted Wednesday to permanently exempt more than half of all publicly traded companies from a seven-year-old post-Enron measure designed ...

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More Pigs at the Trough: What Enron and WorldCom Can Teach Us About Goldman and AIG

Arianna Huffington | Posted 05.25.2011

Read More: Aig, Ken Lay, Joseph Cassano, Pigs at the Trough, Worldcom, Tyco, Enron, Financial Crisis, John Rigas, Bernard Ebbers, Business News
Arianna Huffington

In 2003, when I wrote Pigs at the Trough, America's corporate crooks were largely playing with shareholders' money. The new batch of Pigs I cover in the just-released updated version is playing with taxpayer money -- trillions of it.

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Defining Extravagance Up

Jamie Malanowski | Posted 05.25.2011

Read More: Worldcom, Aig, Tyco, Daniel Patrick Moynihan, Bonuses, Enron, Economy, Aig Bonuses, Bank Bonuses, Recession, Federal Bailouts, Bailout Bandits, Financial Crisis, Aig Federal Bailouts, Wall Street Bonuses, AIG Scandal, Politics News
Jamie Malanowski

It's admirable that our leaders now want to be frugal with our money but let's remember what the taxpayers themselves have been buying with money not rendered unto Uncle Sam.

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