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Following the collapase of Enron, the investigation of the sheer magnitude of fraud by WorldCom's accountants has further shook the American faith in corporate business and financial institutions. Allegedly, Worldcom in conjunction with Arthur Anderson, systematically hid billions of dollars of expenses through creative accounting. Yet, accounting fraud only reveals half the story of the fall of a tremendous telecommunications empire. WorldCom began life as a real company with real revenues: Long Distance Discount Services (LDDS), a long distance company born after AT&T's federally mandated breakup in 1983. Worldcom began to really become successful as it started to acquire telecom networks: IDB's burgeoning communications network in 1994, Williams Telecommunications Group's 10,000 miles of fiber in 1995, and MFS's owned and leased network capacity in 1996.
Approximate Word count = 365
Approximate Pages = 1.5
(250 words per page double spaced)
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