Liabilities?
Q: Worldcom bankruptcy would be the biggest bankruptcy in world history. I have a question how this is scored. Is it by assets or liabilities? In short by bags or contents. Meanwhile, the story offers a puzzle for the readers to come with a compromise solution for: ``WorldCom has no current plans to renegotiate Ebbers' severance package, which pays him $1.5 million a year for life, or bonuses he received during his tenure.''
A: -It sounds like Drudge is not comparing in constant dollars, or in terms of economic damage. Micklethwait and Wooldridge in the Wash Post point out that corporate misbehavior, followed by reforms, has occurred throughout history. Their comment: "...history suggests three important lessons. First, many of the previous scandals have, by most measures, been rather more serious than today's fuss. Second, the longer-term significance of the scandals isn't the wrongdoing of the villains but the remedy society applies. Third, the backlash against corporate malfeasance can sometimes do more damage than the malfeasance itself." -Its judged by liabilities.