In case you've missed it, CNBC's American Greed series is one of the best new television shows to come out in awhile. Each 1-hour episode looks at two scams, cons, and schemes, featuring interviews with victims, participants, and law enforcement. It's a great look at the psychology of white collar crime and, even better, it's entertaining.
The show has mostly focused on small, relatively unknown ponzi schemes, art heists, and con games but that's going to change this week. On Wednesday at 9:00 PM ET, American Greed will feature a profile of the "WorldCom scam," which, with $107 billion in assets, was the largest bankruptcy in U.S. history, nearly twice as big as Enron.
I'm looking forward to the WorldCom profile, partly because there's been a discrepancy in the amount of media coverage it's gotten compared with the smaller Enron. Partly this is because Skilling and Co. beat Worldcom to the punch by about seven months. But the story of WorldCom also seems to lack the Greek tragedy elements of Enron.
Hopefully the CNBC special will provide look at WorldCom that is compelling on a human level, something none of the coverage of it so far has really done.
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Reader Comments (Page 1 of 1)
3-03-2008 @ 6:44PM
phillip said...
Wow, I was watching Street Signs early this afternoon and the American Greed commercial came up. I immediately decided to TiVo the show.
Also, while we're talking about CNBC I think there is a highlight reel of CNBC and Warren Buffet tonite at 8 and 12 ET.
Who says us real estate people aren't market watchers also???
Phillip
http://www.mylifechanger.com
3-04-2008 @ 7:31AM
Rob said...
Nothing like the old Wallaston report..
http://wallastoninvestments.com/tuesday-morning-wallaston-report
3-04-2008 @ 10:24PM
Ric said...
CNBC is replaying this show again on March 5. I think they replay these shows more as well. You can get information about the show, watch some videos and read some of the court documents on their website:
http://www.cnbc.com/id/23237211
3-05-2008 @ 3:39PM
Tom Jelen said...
American Greed: Scams, Scoundrels and Scandals
Submitted by: Tom Jelen tomjelenlandscapes@comcast.net
3/5/2008 12:26:04 PM PTchicago retired from UAL
I'm waiting to see if you news people have the guts to investigate United Airlines and the greed and thievery that has gone on since Tilton and his band of thieves took over the airline?? And in the name of 911, and bankruptcy, the ESOP failed the pension, the stock, and the jobs and benefits the outsourcing that have been lost and Tilton? Tilton even coned the government into picking up an over inflated pension plan that is now picked up by the You the taxpayers (pbgc). The people in the know be ashamed for letting him get away with this.