Home
/
RELIGION & LIBERTY ONLINE
/
The telecom cowboy weeps
The telecom cowboy weeps
Dec 8, 2025 4:36 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
Two reviews of ‘Defending the Free Market’
Father Peter Preble, pastor of St. Michael Orthodox Church, and Stephen Kokx, adjunct professor of political science and columnist, both recently reviewed Rev. Robert Sirico’s new book Defending the Free Market: The Moral Case for a Free Economy. Fr. Preble says the book changed his outlook on how to treat the poor. He refers to the third chapter and highlights the book’s emphasis on asking new questions: The most striking of the chapters has to be chapter three, Want to...
‘Defending the Free Market’ on C-SPAN
On C-Span2’s BookTV, Rev. Sirico talks about his new book, ‘Defending the Free Market: The Moral Case for a Free Economy’, and argues that moral people should embrace capitalism and the free market. This talk was hosted by the Catholic Information Center in Washington, DC.The next scheduled air times are Saturday, June 30th at 7pm ET and Sunday, July 1st at 6:15am ET. ...
Standing Up to Rousseau: Remarks at a Fortnight for Freedom
I had the opportunity to speak at the Fortnight for Freedom event held by the Church of the Incarnation in Collierville, Tennessee, on June 21. The venue and the crowd were among the best I’ve ever encountered. Below, you can read my excerpted remarks: On the Question of Religious Liberty If I understand correctly, this is the beginning of the Fortnight for Freedom here at the Church of the Incarnation and around the nation. The need for this special fortnight...
Richard Vedder on ‘Federal Student Aid and the Law of Unintended Consequences’
Dr. Richard Vedder, the Edwin and Ruth Kennedy Distinguished Professor of Economics at Ohio University and the director of the Center for College Affordability and Productivity, recently addressed the topic of federal aid and the cost of higher education, an issue that has received some attention on the PowerBlog as of late.Vedder critiques federal aid initiatives like the Pell Grant, which today helps the middle class more than the poor, but saw a twofold size increase from 2007 to 2010....
Text of the Obamacare Ruling
For those wanting to read the recently released decision, the Alliance Defense Fund has a copy of the Supreme Court decision on Obamacare. ...
Growing Detroit
Renaissance Center (GM building). Creative Commons: paul (dex) bica via Compfight Some time back I argued that urban farming and the entrepreneurial spirit in Detroit was something that should be embraced rather than dismissed. Detroit mayor Dave Bing has given verbal support for urban munity farms in the past, but in many cases some regulatory hurdles remained and he was somewhat skeptical at times about the importance of large scale urban agriculture projects. But that ambivalence seems to be history,...
Rev. Robert Sirico: Reply to America Magazine
Anytime I can get a progressive/dissenting Catholic magazine/blog like the Jesuit-run America simultaneously to quote papal documents, defend the Magisterium of the Catholic Church, embrace the Natural Law and even yearn for a theological investigation “by those charged with oversight for the Church’s doctrine” of a writer suspected of heresy, I consider that I have had a good day. And to think that all this was prompted by two sentences of mine quoted in a New York Times story on...
Lessons in Liberty from a Little House on the Prairie
We could learn a lot about liberty from our pioneer forebears, argues Meghan Clyne. And an exemplar of this model of freedom and self-reliance can be found on our children’s bookshelves, in the Little House books of Laura Ingalls Wilder: Who in America’s past, then, can show us the way to a mature, sustainable democratic life — one defined not by the rebellious seizure of liberty, but by the consistent and wise exercise of it through a dedication to self-reliance?...
Vocation Infusion Learning Community
This week, 40 pastors and church leaders are gathered to discuss important ideas of integrating faith, work, and vocation into our daily lives. Vocation is integral, not incidental to the missio Dei, the work that God has called us to do each day. The pastors and church leaders represent a diversity of evangelical traditions and geographic locations in the US. Over the next year, this group will meet for face-to-face retreats, field trips and a few webinars with the goal...
The Religious Left’s Hunger for Big Government
“I was Hungry and You . . . Called your Congressman” is a good report from Kristin Rudolph over at the IRD blog. The article covers Bread for the World president David ments to a group of “emergent Christians” in Washington D.C. From the piece: Beckmann lamented that “very little progress has been made against poverty and hunger” in the US over the past few decades. This, he explained, is because ”we haven’t had a president who’s made the effort”...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved