Introduction WorldCom was America ’s second largest telecom company in 2000 (The WorldCom Accounting Scandal‚ 2002). Making a modest beginning in the hinterland of Mississippi in 1983 with a meager capital of less than 100‚000 USD it reached the pinnacle of corporate success reporting more than USD 39 billion in revenue and USD 150 million in MCAP (The WorldCom Accounting Scandal‚ 2002). In the process it became 42nd in the Fortune 500 list. Under the leadership of CEO Bernie Ebbers it grew rapidly
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Media underwent changes in the 1970s that served as distractions from the government’s scandals and increasing stagflation. All the “magazines promoted social reforms with a vigor they had lacked for several years[…]. The United States as a whole may have seems to linger a cultural and political malaise during the 1970s‚ but the media was more active than ever.”(The 1970s:Media:Overview para 1). Literary media has always existed‚ but is was in the 70’s that their embracement of the time periods changed
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Through the Decades: An Examination of Social‚ Political and Economic Post-World War II Events and Their Impact on the American People America has experienced social‚ political and economic events that have greatly shaped this nation and impacted its people in the decades following World War II. The purpose of this paper is to identify which events‚ during each decade from the 1950s through the 1990s‚ had the greatest impact on the American people. Undeniably‚ most political and social
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the Watergate affair? Zinn believes even after the Watergate scandal ended‚ corruption in the government still remained. He quotes a French newspaper: “the elimination of Mr. Richard Nixon leaves intact all the mechanisms and all the face values which permitted the Watergate scandal” (Zinn 545). He explains that the House Committee blamed Nixon’s faults personally‚ but not the corruption in the government which enabled the scandal. Therefore‚ the power of the President to take any action preserving
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American people know‚ that their highly esteemed government was soon to be caught in one of the biggest scandals of all time; Watergate. This was one of the biggest impacts on why citizens currently have distorted views of our government and its leaders being thought of as immoral and corrupt. When two reporters named Bob Woodward and Carl Bernstein were assigned to further investigate this scandal the truth began to unfold and eventually led to President Nixon’s resignation. This proved just how important
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Andersen‚ LLP Abstract Enron was a natural gas company that was formed in 1985 by Kenneth Lay. By 1992‚ Enron was the largest selling company of natural gas in North America. In October 2001 a scandal involving Enron was emerging. This scandal led to the fall of the company. The Enron case and many others cases led to the collapse of other companies that did business with them which included one of the largest accounting firms in Chicago; the accounting firm of
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The Bernie Madoff Ponzi scheme was life altering for numerous individuals who trusted in Madoff with their life savings and hard-earned wealth. Although the original scandal made headline news over eight years ago lawsuits and other remnants still remain. In 2013‚ one of largest organizations that people believe contributed the J.P. Morgan (JPM) agreed to settlement with a onetime payment of $billion dollars (J.P. Morgan Chase Will Have To Pay A Fine‚ 2013). Although many believe that JPM was the
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Corporate Transparency vs. Business Performance Throughout history‚ mankind has had innumerable moments of corruption and greed. From the City-State wars in ancient Greece to the organized crime during the prohibition‚ human beings have always been prey to the desires of wealth and power. While our current society may seem civilized compared to those eras‚ the shallow traits which haunted mankind then are still in play in today’s society. There are always going to be people looking for a way to
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The company fat cats or executives have made a fortune despite the recent bankruptcy and the invested employees/shareholders have suffered major financial losses. Who is the company? You would not be alone in immediately thinking of Enron and the scandal that involved Key Lay‚ also in 2002. However‚ the correct answer would be Global Crossing‚ a 5 year old company founded by Gary Winnick in 1997. The Rise of Global Crossing. As mentioned in the introduction of this paper‚ from the outside facts
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idea of a completely immoral figure. His handling of the Vietnam war in attempting to remove the US “honourably” while slaughtering thousands of civilians‚ along with attempting to cover up blatant political corruption in the form of the Watergate Scandal‚ are but two episodes which‚ on face value‚ support the conclusion of Nixon’s nefarious nature. Dr. Hunter Thompson described him as the kind of man who 1“could shake your hand and stab you in the back at the same time”‚ and recalls that even President
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