Fraud watching
Over at Dot Com Scoop, Ben Silverman has created As the WorldCom Turns, a blog about the fraud. It's a fine example of "microcontent".
The WorldCom story is, of course horrifying and it begs the question: are the managers, politicians, bankers and accountants who've stolen billions or enabled such theft a pervasive criminal facet of capitalism? Or are they a by-product of what Bush, Clinton and the majorities in Congress have helped create over the past 10 years by undermining the safeguards that were once part of the US financial system? After all, the Enron and WorldCom CEOs and CFOs aren't your typical gangsters. They come from the best business schools and from the top consulting firms. One possible outcome of the scandals is a depression in the US as ordinary investors — those without whom the markets will collapse — decide to pull out and stay out.
