“Greed for the lack of better word is good” was one of the famous line from the 1987 movie “Wall Street”. Turns out not, nothing can presumably accentuate human greed more than corporate fraud. What happened with WorldCom Group, one of the world’s largest telecom giant, is a testament to how catastrophic human greed can be. With the failure of a multi-billion dollar telecom corporation, the world witnessed one of the largest accounting frauds in the history. What sets WorldCom’s case apart from Enron’s and other accounting fraud cases is that it didn’t fail just from accounting manipulations responsible for the overstatement of their earnings. Apart from corporate greed and actions of certain executives, WorldCom was brought down to its knees
