The New York Times published an article stating: "In recent days, this newspaper has received reports that WorldCom possesses massive financial deficits, has falsified earnings, and engaged in fraudulent practices. To protect the interests of the vast number of investors, we suggest that the Securities and Exchange Commission and third-party auditing firms intervene immediately to avoid causing enormous economic losses."
Bloomberg published an article stating: "WorldCom is the second-largest long-distance telephone company in America and a traditional giant in the American telecommunications industry. In the first quarter that just passed, its market value exceeded 100 billion dollars, making it an undeniable corporate titan. However, in recent times, it is highly likely that it harbors massive hidden security risks."
WorldCom!
WorldCom!
WorldCom!
Still WorldCom!
For an entire day, WorldCom existed as the front-page headline across all major mainstream media in America, especially in the fields of financial and social news, becoming known to the general public.
The speed at which the news spread was incredibly fast, as unstoppable as a volcanic eruption.
With matters developing to this point, WorldCom Chairman Dina Shaw Ennis and the rest of the management team were all dumbfounded. They had the heart to cover it up, but they had no way to do so.
"Cover it up?"
"How do we cover it up, and with what?"
"You have to know that in just these past ten days alone, the amount of money involved in the violations that have been exposed already exceeds 100 million dollars. Who knows how deep the pit inside this really is?!"
"200 million?"
"300 million?"
"Or even more!"
"My God! I never imagined that Bernard Ebbers and the others would be so bold. This, this, this is... leading WorldCom into an abyss from which there is no return!"
Chairman Dina Shaw Ennis