Worldcom is spending millions of dollars to rebrand itself as MCI (after doing the reverse a few years back). After watching tonight's Frontline, The Wall Street Fix, you can understand why (the entire program will also be online). Hedrick Smith investigates the downfall of the telecom company and the relationship with Citigroup. We also hear from people who lost money while the people responsible got off with little or no hardship.
Smith explored some of this territory in last year's Bigger than Enron and and Frontline also did Dot Con (you can watch the entire program online). NOW with Bill Moyers has also covered corporate scandal extensively (including a releated story on Citigroup), but network news attention has fallen since the Enron scandal broke.
The programs all show the dangers of deregulation and the impact of powerful corporate lobbies, something that should be considered before the FCC votes for more media deregulation.
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