Bernie Ebbers Is Still a Free Man
But he may not be one much longer, thanks to Oklahoma.
The Oklahoma attorney general on Wednesday charged MCI, its former Chief Executive Bernie Ebbers and five others with violating state securities laws by knowingly giving false information to investors.
It's about time that somebody recognized that Bernie "I'm In Control Here" Ebbers ought to be charged with something. Too bad it wasn't the Feds. The Feds have charged former CFO Scott Sullivan, but have not charged Ebbers. Minimally, Ebbers, under whose watch much of the fiscal wrongdoing took place, is guilty of gross negligence. As CEO, he signed off on the firm's financial statements. He should have known they were materially misleading, even assuming he actually did not (and that's a big assumption).
Oklahoma, O-K-l-a-h-o-m-a, Oklahoma, OK!