It's the largest bankruptcy filing in U.S. history, worth more than $107 billion, far exceeding Enron's filing of $64 billion last year.
In this hour, WorldCom tanks. Can the telecommunications industry, Wall Street investors, and the American public afford to take the hit?
Eli Noam, Director of the Columbia Institute for Tele-Information and Professor of Finance and Economics at Columbia University
David Skeel, Corporate Law Professor at the University of Pennsylvania and the author of "Debt's Dominion: A History of Bankruptcy Law in America"
This program aired on July 22, 2002.