Home
/
RELIGION & LIBERTY ONLINE
/
The telecom cowboy weeps
The telecom cowboy weeps
Jan 20, 2026 5:59 AM

Bernie Ebbers got 25 years in the cooler for his role in the demise of WorldCom. If he serves the full sentence, he’ll be 85 years old when they let him out. Here’s how AP described his reaction when the verdict came down:

Ebbers sniffled audibly and dabbed at his eyes with a white tissue as he was sentenced. He did not address the court. His wife, Kristie Ebbers, cried quietly. Later, the two embraced as the courtroom emptied.

Now, set that picture against these remarks:

At the sentencing hearing, Henry J. Bruen Jr., 37, a former WorldCom salesman, told the court pany’s collapse caused “untold human carnage” and put him through “sheer hell.” He lost all of his savings and couldn’t get another sales job.

There are many thousands more who have been severely battered by the WorldCom collapse. Ebbers also had to cough up nearly $40 million of his own fortune as partial restitution for investors and employees whose retirement accounts were wiped out by the $11 billion accounting fraud. No doubt, many tears were shed by these unfortunates, too. Recently, The New York Times offered this summary of what Mr. and Mrs. Ebbers had to give up:

The assets that Mr. Ebbers has promised to turn over include $5 million in cash, 300,000 acres of timberlands in Mississippi, a prospective multimillion-dollar e tax refund, and interests in a major trucking business, a marina, a golf course, a rice farm, a hotel, a grain pany and other real estate ventures. He and his wife will also be required to vacate their multimillion-dollar home in Clinton, Miss., by October; it will be put up for sale. In addition, Mr. Ebbers has agreed to pay $450,000 to former WorldCom employees who sued him over losses they incurred in their retirement accounts.

So what’s the cure for this, and other corporate wrongdoings? Rev. Robert Sirico points to the solution in “The Ethical Challenge for Business,” mentary written in 2002, that scandal plagued year:

If we are to learn anything from the ethical lapses of business this year, it should be that the Judeo-Christian moral code needs to be retrieved, not reformulated, much less wholesale politicization. Old truths need to be spoken into new contexts, remembering that the basic principles of right and wrong are discovered, not invented. Nor do they change based on circumstance or popularity. If this lesson is not learned from the corporate scandals, we cannot expect the moral standing of business, that activity that most people spend much of their time occupied with, to achieve a level worthy of human beings and a civilized culture.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Lex Luthor, Capitalist Villain
In an earlier post pared the political economy of superheroes in the DC and Marvel universes. And today I have a piece up at The Stream examining the figure of Lex Luthor, the crony capitalist villain featured in Batman v. Superman: Dawn of Justice. As I write in that piece, Luthor is certainly more than a crony capitalist, but he is not less than one, and it is this corruption of democratic capitalism that serves as a backdrop for his...
A Papal Revolution
This year marks the 125th anniversary of Pope Leo XIII’s encyclical Rerum Novarum and the beginning of the modern Catholic social encyclical tradition. In this landmark text, Leo courageously set out to examine the “new things” of his time, especially the changes associated with the Industrial Revolution. These included the emergence of an urbanized working class, the breakdown of old social hierarchies, and the rise of capitalism as well as ideologies such as socialism, munism, and corporatism. On April 20,...
Roundup: Samuel Gregg on Pope Francis and Overpopulation, Pope Leo XIII and Modernity, and Constitutional Conservatism
New articles from the indefatigable Samuel Gregg, research director of the Acton Insitute: Amoris Laetitia: Another Nail in the “Overpopulation” Coffin, The Catholic World Report Here the pope signals his awareness of the efforts of various organizations—the UN, the World Bank, the IMF, the EU, particular US administrations—to push anti-natalist policies upon developing nations. A Revolutionary Pope for Revolutionary Times, Crisis Magazine Between 1878 and 1903, Leo issued an astonishing 85 encyclicals. Many dealt squarely with the political, social, and...
Audio: Samuel Gregg Revisits Regensburg
Samuel GreggOn Monday evening, Acton Institute Director of Research Samuel Gregg joined host Sheila Liaugminas on Relevant Radio’s A Closer Look to examine Pope Benedict XVI’s Regensburg address as we approach the tenth anniversary of its delivery. Greggemphasizes the fact that our understanding of who God is and what his nature is has important implications for how we understand human liberty and rationality, and argues that as western nations have gradually abandoned the Christian religious principles that formerly undergirded their...
North Koreans face new challenges after they defect
They faced potential starvation, imprisonment, torture, and made a dangerous journey to freedom only to discover new struggles that they never could prehended in their former lives. Stories and reports of North Koreans fleeing their country aren’t particularly unusual. There are dozens of books written by or about North Korean defectors. Last week, thirteen North Koreans who worked for a restaurant fled to South Korea. It’s also been recently reported that a high-ranking colonel from North Korean military’s General Reconnaissance...
Leftist Shareholders Attack Corporate Free Speech
On its website, Trinity Health trumpets its shareholder activism. Based in Livonia, Mich., the Catholic health care provider boasts operations in 21 states, which includes 90 hospitals and 120 long-term care facilities. For this last, Trinity should be lauded. For the first, however, your writer is left shaking his head. Among Trinity’s list of five shareholder advocacy priorities, two stand out: • uphold the dignity of the human person. • enable access to health care. In other words, issues any...
4 Reasons to Support School Choice from Pope Francis’s ‘Amoris Laetitia’
Pope Francis’s recently released apostolic exhortation Amoris Laetitiahas received considerable attention because of the issue of divorce munion. But the 60,000+ word document has much more to say about family life than the dissolution of marriage. For example, it provides pelling reasons for all Christians (not just Catholics) to support school choice. The term “school choice” refers to programs that give parents the power and opportunity to choose the schools their children attend, whether public, private, parochial, or homeschool. While...
Tesla Motors Releases a Car for the Masses That Runs on Coal
Electric cars are not a new invention, nor are they as popular as they once were. (They debuted in 1890 and by 1900 electric cars accounted for around a third of all vehicles on the road.) But over the past decade, thanks to Elon Musk and Tesla Motors, electric cars have e much more interesting. Tesla rolled out the first fully electric sports car in 2008 and a fully electric luxury sedan in 2012. And earlier this month they unveiled...
Rev. Sirico: Pope Francis’s Love Letter to the Family
“What the pope has brought forth is honest, timely and sensitive,” writes Rev. Robert A. Sirico, co-founder and president of the Acton Institute. “Amoris Laetitia explores plicated pastoral situations that any confessor will know all too well: challenges of how weak and fallen people can authentically live the faith.” In the Detroit News, Rev. Sirico discusses Pope Francis’s love letter to the family: The pope’s reflections are aimed at how to make a solid moral discernment in the midst of...
Money and Moral Absolutes
In medieval Europe merchants would often writeDeus enim et proficuum (“For God and Profit”) in the upper corners of their accounting ledgersorA nome di Dio e guadangnio (“In the Name of God and Profit”) on partnership contracts. These words reflected their authors’ conviction that banking and finance were economically useful endeavors,saysSamuel Greggin this week’s Acton Commentary. Luis Molina and the many other Christians who explored these areas throughout history were not searching for greater marketplace effi­ciencies. Their concern was moral....
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved