Fraud @ WCOM

Discussion in 'Trading' started by Bachelier, Jun 25, 2002.

  1. cbs marketwatch headline:


    Do you think they thought of it first?
    #21     Jun 25, 2002
  2. lol...I think the title of the this thread is a winner: FRAUD@WCOM.

    Makes me think someone's email address....or,, which must be the parent company of all these 1990's scams.
    #22     Jun 25, 2002
  3. Josh_B


    "misplace" money?

    Try this:

    CBS NEWS -- Defense Secretary Donald Rumsfeld said the Pentagon is unable to account for large sums of its budget, reports CBS.

    "According to some estimates, we cannot track $2.3 trillion in transactions," Rumsfeld admitted.

    The admission comes as the Bush administration recently asked Congress for an additional $48 billion in defense funds for the new war on terrorism.

    who will go after the government? and reform it?

    #23     Jun 25, 2002
  4. There must have been pre-knowledge of this announcement given the constant selling all day.
    #24     Jun 25, 2002
  5. Rigel


    Priorities are all screwed up.
    Pop a 30 year old guy in the mouth and steal his wallet with $200 in it and you'll end up in prison for a year, lose your job, family, etc.. Steal a thousand 75 year old guys life savings and send them to early paupers graves and you get to be on TV testifying for congress and then take the $60,000,000 you stole and live a comfortable, happy life for the next 30 years. Doesn't make sense to me. These people are so bad. The worst kind really.
    #25     Jun 25, 2002
  6. Gabriel, maybe, but I'd bet more on trading off the MU numbers than off the WCOM stuff...tho obviously some people knew and probably traded...a look at the options action should give interested parties a clue...
    #26     Jun 25, 2002
  7. WCOM to slice 17,000 jobs on Friday.

    Hope it's the entire upper management.
    #27     Jun 25, 2002
  8. I suspect not. Management wil fly that company into the ground but they will not give up raiding the corporate treasury.
    #28     Jun 25, 2002
  9. Josh_B


    nah they will probably pull an enron deal:

    ..Enron's last-minute bonus orgy
    Days before filing for bankruptcy, the scandal-ridden company rewarded some executives with million-dollar bonuses as laid-off workers were denied severance packages...

    but if the pentagon cannot account for few trillions, why do we bother for 3-4 billion?

    It's sad how the avg person pays the price again.

    #29     Jun 25, 2002
  10. man, this stuff has my blood boiling...Reading the news nowadays is hazardous to one's health...
    #30     Jun 25, 2002