Friday, January 07, 2005

Crooked Boards to Give Up Personal Funds to Settle Lawsuit

I hate to be negative about such good news, but I will say one line in this story boils my blood:

"As with nearly all securities settlements, the directors did not actually admit to any wrongdoing in the WorldCom fraud."

Of course not.

Just another example of the huge chasm between privileges for the wealthy and lack of rights for the rest of us. Steal a shirt from Wal-mart and see how far you get paying your $15 and denying any wrongdoing.

Yahoo! News - WorldCom, Enron Ex-Chiefs to Pay Investors: "Ten former WorldCom directors will personally pay $18 million to compensate for investor losses from an accounting scandal that caused one of the largest bankruptcies in U.S. history."

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