The telecommunications company WorldCom collapsed and filed bankruptcy in 2002. Worldcom had engaged in fraudulent practices for some time before the collapse. The scandal this brought to corporate boards and regulators led to a serious distrust of corporations on the part of large and small investors alike. The financial disaster this brought onto individual and professional investors was chaotic, often crippling and led to major legislation to produce more responsible corporations and add trust back into the skittish market.
Write a paper describing the WorldCom collapse, perceived culpability and regulatory reaction to the events.
College level writing and formatting in MLA style is expected. Citations and annotated bibliography are needed.
Each entry in the annotated bibliography should have a single sentence addressing each of the following regarding the source:
- Write a single, short sentence summarizing the resource.
- What is the primary focus/idea found in the source?
- Why was the more source important to your understanding than other sources?
- Does the item represent mainstream, extremist or balanced perspective?
- Why is this source credible?