Chapter 702

"In recent days, this newspaper has received news that WorldCom has problems such as huge amount of money deficit, false profit reporting, cheating for personal gain and so on. In order to protect the interests of investors, it is suggested that the securities and Exchange Commission and third-party audit institutions should step in quickly to avoid causing huge economic losses," the New York Times said in an article

"WorldCom is the second largest long-distance call company in the United States, and is a traditional telecom giant in the United States. In the past first quarter, its market value exceeded 100 billion US dollars, and it is a truly giant enterprise. However, in the near future, it is likely to have huge security risks."

WorldCom!

WorldCom!

WorldCom!

Or WorldCom!

Throughout the day, WorldCom has been recognized by the general public as a front page headline in the major mainstream media in the United States, especially in the fields of financial news and social news.

News spread as fast as a volcano.

At this point, the management of WorldCom, such as Dinah Shaw Lewis, was dumbfounded and wanted to hide it, but there was no way.

"Concealment?"

"How to hide, what to hide?"

"We should know that the amount of money involved in cases and violations exposed in the past 10 days alone has exceeded 100 million US dollars. Who knows how deep the hole is?"

"200 million?"

"300 million"

"Even more!"

"My God! I never thought that Bernard Ebers had the courage to bring WorldCom into the abyss

Dinah Shaw Lewis, chairman of the board of directors, was dead in the face.

All day long, he was almost completely in a rage, and more was panic!

It's completely out of his control.

In other words, he played off!

During the daytime today, the relevant departments of the United States and the securities and Exchange Commission officially issued a document to WorldCom, announcing that they would formally intervene and enter into a deeper investigation into WorldCom; KPMG, the third party auditor, will take over all the accounts of WorldCom in the past at any time.

Chief financial officer Scott Sullivan, auditor David Meyers, chief accountant Brownie

As many as ten people were summoned away at noon.

The storm is coming!

The elite of Wall Street are very excited!

Goldman Sachs, Merrill Lynch, Lehman Brothers, Morgan Stanley and Bear Stearns are the top five investors, and hundreds of small and medium-sized Wall Street investment banks, including gale capital in the name of Zucker, have transferred a large amount of funds into the market.

conceal?

Ha ha, there is no need at all!

"There's no need to hide it!"

"Apart from the employees and bondholders of WorldCom, no one cares whether WorldCom can survive this disaster. We only need to know one thing, that is, it is profitable, and there are huge benefits! "

Wall Street's money is in.

Similarly, the capital strength from Europe, Asia, Australia and other parties, without any delay, mobilized a large amount of funds and followed them.

Moody's, standard & Poor's and Fitch international are known as the "three major international credit rating agencies in the world". With the gradual fermentation of WorldCom scandal, the three major credit rating agencies also have a clear attitude.

Enterprise a credit rating

Go to hell!

The three major credit rating agencies quickly lowered WorldCom's credit rating, let alone A-level. They didn't even give you BBB or BB, but only gave you a B-level.

"During my term of office, WorldCom's financial audit was absolutely clean. I firmly believe that WorldCom will continue to exist as an industry leader and set standards for the latecomers."

——Bernard Ebers.

This sentence originated from the speech made at a news conference on April 30, 2002 when former chairman of WorldCom Ebers stepped down.

With the exposure of the scandal, no one believed his words.

At the same time, President Bush of the United States, who was attending the summit of seven western countries in Canada, was furious and said that he would investigate the WorldCom case comprehensively.

The sky is falling!

Everything is as overwhelming as a tsunami!

It's too fast. It's too fast for Bernard Ebers, the former chairman of WorldCom, to react. He's white all night and his beard is white.

There's nothing he can do!

The representative of the "American Dream", who was born as a milkman, is now flustered, or... Desperate.

.......

Gale capital.

"AndI!"

"Mr. Gallup!"

"President cherope!"

At the moment, a group of executives and partners of gale capital have gathered together.

CEO anty cherop looked around and said in a loud voice, "I have obtained Mr. Wald's full authorization. I will be fully responsible for WorldCom's affairs. Now, including in the next month, everyone must obey my arrangement."

"Asking for leave, taking leave and taking annual leave will all be cancelled, and we will keep our posts waiting for work with 12% energy."

The voice fell.

Ms. clarey, the chief data analyst, Torr Tassos, the vice president, and baront, the senior partner, all support this.

Once again, CEO anty cherop said, "I'll just say two things about this meeting. First, we aim at two goals: WorldCom itself and Andersen accounting firm, which has been auditing WorldCom's accounts for a long time

"Second, the funds for this admission will be no less than US $2 billion, and reserves of no less than US $1 billion will be prepared, so as to protect our profits to the greatest extent."

The crowd immediately nodded.

Torr Tassos, vice president, said with a smile: "as a world-famous accounting firm, Andersen is second only to PricewaterhouseCoopers, KPMG and Deloitte, and is as famous as Ernst & young. In the last Enron incident, Andersen had a bad fall. This time, if WorldCom has a huge deficit, it is estimated that Andersen will not be able to run away, It is very likely to go bankrupt. "

As soon as the words came out, everyone was immediately happy.

Andersen?

Be a famous accounting firm in vain!

Before Enron, after WorldCom, the third-party financial audit of these two 100 billion giant companies is undertaken by Andersen!

The collapse of Enron, an energy giant, has severely damaged the reputation of Andersen accounting firm, with a financial loss of up to $2 billion.

It's coming through!

But what about this WorldCom event?

"I also said, it's choking!" Chief data analyst Ms. Clare laughs.

Therefore, in this event, windy capital will not only target WorldCom, but also Andersen.

In the words of CEO anty cherop: "WorldCom, Andersen, work together!"

Benefit!

Unimaginable huge benefits!

Everything seems to turn into a delicious cake, waiting for a crowd of hungry people to rush up!

The second watch of the book.