WorldCom and the Future of American Business

The troubled telecommunications company
WorldCom announced yesterday that it inflated
profits for more than a year, failing to account for
nearly $4 billion.

If the company files for bankruptcy it will be one of the biggest financial frauds in U.S. history.

As the cloud of corporate scandal looms over Wall
Street, what will be the fallout for investors? After
Enron, after WorldCom do you have confidence in
the stock market? Did you see the billion dollar
WorldCom disaster in the making?

Guests:

Michael Noll, Professor at the Annenberg School of Communication, USC

Henry Hu, Professor of Law Business and Finance, University of Texas

Robert J. Barbera, Chief Economist, Hoenig & Co.;