Vol 2 Chapter 697: WorldCom and Arthur Andersen started!

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The New York Times issued an article saying: "Recently, this newspaper has received news that WorldCom has huge financial deficits, false profits, fraudulent practices and other problems. In order to protect the interests of investors, it is recommended that the Securities and Exchange Commission and third parties Audit agencies quickly stepped in to avoid huge economic losses."

"Bloomberg" published an article saying: "WorldCom is the second largest long-distance call company in the United States and a traditional telecommunications giant in the United States. In the first quarter just past, its market value exceeded 100 billion U.S. dollars. It is an out-and-out giant. Enterprises, but in the near future, it is very likely to have huge security risks."

WorldCom!

Still WorldCom!

For a whole day, the major mainstream media in the United States, especially in the fields of financial news and social news, WorldCom has existed as a front-page headline and is recognized by the general public.

The spread of news is so fast that it is as unstoppable as a volcanic eruption.

When things have reached this point, WorldCom’s chairman Dinah Shaw Anis and other management are dumbfounded and want to conceal it, but there is no way.

"hide?"

"How to hide, what to hide?"

"You need to know that the amount of involved and violations that have been exposed in the past ten days alone exceeds 100 million U.S. dollars. Who knows how deep the pit is?!"

"200000000?"

"300 million"

"Even more!"

"My God! I never thought that Bernard Ebers and the others would be so courageous. This, this, this is... to bring WorldCom into the abyss of eternal disaster! "

Chairman Dinah Shaw Ayes was ashamed.

After a whole day, he was almost completely in anger, and more of it was panic!

The development of the matter has been completely out of his control.

In other words, he is playing off!

During the day today, the relevant departments of the United States and the Securities and Exchange Commission formally issued documents to WorldCom, announcing that they will formally intervene, and will enter a deeper investigation of WorldCom; and the third-party audit agency KPMG will take over at any time. All previous accounts of WorldCom.

Chief Financial Officer Scott Sullivan, Auditor David Meyers, Chief Accountant Brownie...

As many as ten people waited, and they were summoned and taken away in the afternoon of the same day.

The storm is coming!

The elites on Wall Street are extremely excited!

Goldman Sachs, Merrill Lynch, Lehman Brothers, Morgan Stanley, and Bear Stearns led the five major investment banks. Hundreds of Wall Street small and medium investment banks, including Dafeng Capital under the name of Zhu Ke, have indeed drawn large sums of money into the market.

cover up?

Haha, there is no need at all!

"There is no need to cover up!"

"Except for the employees and bondholders of WorldCom, no one cares about whether WorldCom can survive the catastrophe. We only need to know one thing, that is, it is profitable and there are huge benefits!"

Wall Street funds have entered the market.

The same capital forces from Europe, Asia, Australia and other parties did not delay the slightest, drew large sums of funds, and then entered the market one after another.

Moody's, Standard & Poor's and Fitch International are known as "the world's three major international credit rating agencies." With the gradual fermentation of the WorldCom scandal, the three major credit rating agencies also expressed their attitudes for the first time.

Enterprise A-level credit rating...

Go to hell!

The three major credit rating agencies quickly downgraded WorldCom’s credit rating, let alone A grade. Even BBB and BB grades are not given to you, but only B grades.

"During my tenure, WorldCom's financial audit is absolutely clean. I firmly believe that WorldCom will continue to exist as an industry leader and set standards for latecomers."

-Bernard Ebers.

This sentence originated from the speech at a press conference on April 30, 2002, when the former chairman of WorldCom Ebers stepped down sadly.

With the exposure of the scandal, no one believed his words anymore.

At the same time, US President Bush, who was attending the G7 summit in Canada, was furious and said that he would fully investigate the WorldCom case.

The sky is falling!

Everything is unstoppable like a tsunami!

Too fast, too fast, so quickly that Bernard Ebers, the former chairman of WorldCom, couldn't react. He turned his head and his beard white all night.

He can do nothing!

The representative of the "American Dream", born as a milkman, panicked at this moment, or...desperate.

.......

Gale Capital.

"An Di!"

"Mr. Chelop!"

"President Chelop!"

At this moment, a group of senior executives and a group of partners within Dafeng Capital gathered one after another.

CEO Andy Chelop looked around and said loudly: "I have obtained the full authorization from Mr. Wald, and I will be solely responsible for the affairs of WorldCom. Now, including the next month, everyone must obey me. s arrangement."

"Ask leave, vacation, annual leave, all canceled, keep the post waiting for the job with twelve minutes of energy!"

The voice fell.

Chief data analyst Ms. Claire, Vice President Thor Tassos, senior partner Baronte, and others, one counts as one, and Gu Yes expresses his support. UU reading www.uukanshu.com

CEO Andy Chelop said again: "This meeting, I will only say two points. First, we have two targets, namely WorldCom itself, and Anda, which has been auditing accounts for WorldCom for a long time. Letter accounting firm;"

"Second, the capital for this entry will be no less than 2 billion U.S. dollars, and at the same time, a reserve of no less than 1 billion U.S. dollars will be prepared to protect our profits to the greatest extent."

Everyone nodded immediately.

Vice President Tor Tassos laughed: "As a world-renowned accounting firm, Arthur Andersen is second only to PwC, KPMG, and Deloitte, and is on par with Ernst & Young. In the last Enron incident, Arthur Andersen I have a serious trouble. If WorldCom has a huge shortfall this time, it is estimated that Arthur Andersen will not be able to escape, and it is very likely that it will go bankrupt and go bankrupt."

As soon as this remark came out, everyone immediately became happy.

Andersen?

In vain as a well-known accounting firm!

Before, there was Enron, and afterwards, there was WorldCom. The third-party financial audit of these two billion-dollar companies was undertaken by Arthur Andersen!

The collapse of the energy giant Enron has dealt a severe blow to the credibility of Arthur Andersen Accounting Firm, and its financial losses amounted to US$2 billion.

It survived!

But what about the WorldCom incident this time?

"I also said, it's choking!" Chief Data Analyst Ms. Claire laughed.

Therefore, this time Dafeng Capital will not only target WorldCom in this incident, nor will it let Arthur Andersen go.

In the words of CEO Andy Chelop: "WorldCom, Andersen, let's do it together!"

interest!

Unimaginable huge benefits!

Everything turned into a delicious cake, waiting for a crowd of hungry people to swarm up!

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