The dot bomb day of reckoning

Remember the dot bomb era, when all the new economy hype came crashing down? Many will take a grim satisfaction that prosecutors are taking down some of the perpetrators of one of the worst greed-inflated stock market bubbles ever.

Ex-WorldCom CEO Ebbers found guilty on all counts - Mar. 15, 2005

This fellow was a Canadian who started his telecom empire with a motel somewhere. Normally that would be a great success story, but it did not end there. His CFO tried to hold onto that empire so that the stock bubble would not collapse, by making losses seem smaller than they were. Of course, the rich, the insiders all got out when the getting was good, and the ordinary investors, the pension funds, they all got burned.

I suppose there is some satisfaction in knowing the law will not allow everyone to escape consequences for breaking the trust of investors. But there's no happiness to be found here. Just another life, laid waste.