Chapter 704

[real hammer: WorldCom's false profit report, malpractice and commercial fraud!]

[the securities and Exchange Commission announced that it has verified WorldCom's false revenue report, with an amount of more than US $3.8 billion!]

[the corresponding evidence of WorldCom has been submitted to the District Court of Jackson, Mississippi

[Bernard Ebers, former chairman of WorldCom, denies the crime and insists that the financial account is clean!]

The New York Times, Washington Post, Bloomberg, Mississippi State News, time, fortune and other major media newspapers, including NBC, CBS, WB, ABC and other major public TV stations in the United States, are tracking reports in the form of unit plays.

The sales of newspapers and periodicals in major media are hot;

The number of viewers of major TV stations remains high;

For a time, the WorldCom scandal has become a hot topic for discussion.

"Since the end of the cold war between the United States and the Soviet Union in the early 1990s, the market economy of the United States has developed rapidly, especially with the opening of broadband Internet information, which has pushed the free economy of the United States to one peak after another. However, problems have followed," said Joe Nam, a well-known economics professor at New York University in an interview

"At the beginning of 2000, the global Internet bubble broke out, and on the day of the stock market crash, only a day lost more than 3 trillion dollars, and more than 300 Internet companies collapsed."

"In September 2001, the sudden arrival of 9 / 11 incident caused the US economy to suffer another severe winter."

"In November 2001, Enron, an energy giant, collapsed."

"In December 2001, global telecom fell down."

"As of May 2002, WorldCom, the second largest long-distance telephone company in the United States, has been deeply involved in a negative scandal."

"Someone asked me, why do these things happen all the time?"

"Is there no effective measure to prevent it?"

"I tell you - no!"

"As long as our social system does not adapt, as long as the existence of human greed, all this will continue to play out in the future!"

What do you say?

Many people watching the TV program have been scolding.

"Behind the horse!"

A young Chinese American gritted his teeth and said, "I hold a lot of stocks in Andersen accounting firm, and I also hold a lot of stocks and bonds in WorldCom. Now I can't sell them. I've lost all of them in my hands!"

There are so many investors who have lost so much as him.

In recent days, Jackson, the capital of Mississippi, where WorldCom headquarters is located, has witnessed several demonstrations since the scandal broke out, and the police force at the scene has been tense.

Especially under the headquarters of WorldCom, a large number of protestors gather every day.

Pay back

[lose money!]

Go to hell with WorldCom

Banners and slogans can be seen everywhere;

The photos of Bernard Ebers, former chairman of WorldCom, Dana Shaw Lewis, current chairman of WorldCom, and Scott Sullivan, chief financial officer of WorldCom, were severely despised by numerous protestors and burned on the spot.

The police officers at the scene sometimes turned a blind eye to some extreme behaviors of the protestors.

No way!

More than 99% of the people who came to participate in the demonstration were holders of shares and bonds of WorldCom. With the exposure of WorldCom scandal, they lost a lot, and with the continuous fermentation of the scandal, their shares completely became junk shares.

Tens of thousands of dollars, hundreds of thousands, millions, thousands of dollars of losses, who can keep calm?

A lot of people are ruined!

On the other hand, Wall Street in New York is very lively, forming a sharp contrast.

In a cafe on Wall Street, it's at noon now. Many Wall Street elites are talking about the WorldCom scandal.

"WorldCom is in a mess!"

"Of course, the amount of money exposed now has exceeded $3.8 billion. How many days? Who knows what big news will come out of the securities and Exchange Commission in the future? "

"That's it

"Before the scandal, WorldCom had a market value of hundreds of billions of dollars, but now? Ha ha, in just over 20 days, the market value has been cut by more than half. "

"Tut Tut, I estimate that it won't be long before the market value of WorldCom will be able to leave 10 billion US dollars, thank God!"

"Don't forget, WorldCom's liabilities are more than 35 billion dollars."

"In my opinion, it will definitely go bankrupt and restructure!"

.......

The smiles and banter on the faces of many Wall Street elites can not be concealed.

Who let them make a lot of money?

In the words of Bruce Marion, senior partner of Goldman Sachs investment bank, "the money we make from WorldCom is more and faster than robbing banks!"

Ding Ding Ding~

At this time, the phones of the Wall Street elites who are discussing in the coffee shop ring frequently.

"What?"

"You say yes, really!"

"Oh, my God!"

All the people who received the call were shocked and left quickly.

Why?

Because there's another big news coming out!

Citibank, Mediterranean bank, Chicago bank, Mississippi State Bank

And so on, more than 20 banks, together, directly sued WorldCom. A year ago, WorldCom made large loans to these banks, amounting to more than $2.5 billion.

"It's a fraud!"

"There is no doubt that this is fraud!"

WorldCom, which is already at the top of the storm and in the middle of the quagmire, is once again hit hard. No matter how hard WorldCom works, it is useless now!

.......

Gale capital.

"Why are you still in a daze?" yelled Andy cherope, the CEO?! My God, more than 20 banks have informed WorldCom. What does that mean? It means that the shares of WorldCom will surely suffer a cliff like decline today! "

"That means we're going to make a lot of money today, guys!"

At this moment, he was very excited.

you 're right!

Such an excited andI cherope, his words are with a trill.

If not, in the next time today, the market value of WorldCom company suffered a cliff like decline!

100 billion giant?

Ha ha, now is a joke!

For more than 20 days in a row, the market value of WorldCom has halved to just over $44 billion. However, in just a few hours this afternoon, until the end of the day, the market value of WorldCom has dropped to just $20 billion.

"Not to the end!"

"WorldCom thanks to the closing of the stock market, otherwise it would fall below $15 billion. I'm sure that when the stock market opens tomorrow, it's going to crash all the way

"Well, no one can save WorldCom!"

The second watch is on.