Wednesday, July 13, 2005

Ebbers Done

Smoked catfish ready to be served to pit bulls.

The meek shall inherit the earth, the Bible says.

And so things transpired on Wednesday as former Worldcom CEO Bernie Ebbers was sentenced to 25 years in the slammer.

That's a hefty sentence.

But a well-deserved one.

Ebbers looted the company, sent employees scrambling for new jobs, their savings blown up, all the while he walked off with god knows how much.

Even more, Ebbers, and those bastards at Enron, Adelphia, and Tyco, through their dishonesty and nefarious machinations, forever tinged the way the modern investor views corporate governance.

I can't tell you how many times clients have voiced their concern to me: "Well, how do I know this is safe...maybe this is the next Worldcom..."

Hopefully, bullies like Ebbers will continue to get caught with their hands in the cookie jar, so the average, hard-working American can retire with a decent 401(K) and head down to Florida for golf and bingo.

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