The Dow's been climbing for the past 3 days in a row -- triple-digit climbing, mind, none of this...

posted 09 August 2002
The Dow's been climbing for the past 3 days in a row -- triple-digit climbing, mind, none of this wussy 30-points-in-a-day type wavering that used to constitute a good day on the markets. But that's all over now: in a move that takes the situation from being merely hilarious to being frankly flabbergasting, WorldCom announced that the misrepresentation of its profits -- already the biggest ever -- is actually twice as big, at a total of $7 billion. Hey, whoops, sorry we didn't spot that earlier! The new fraud (don't think it isn't) was discovered by going back to financial records from 2000. So clearly WorldCom has been making a habit of misreporting income, which would explain why the new executives say there may be yet more "restatements" to come. Was this company ever profitable?
Meanwhile, Modern Humorist continues to be very funny (if badly spelled) with suggestions for more politically-aware muppet characters and a preview of upcoming episodes of the Anna Nicole show
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