Great Frauds Are Not Relics Of The Past – History Is Doomed To RhymeGuest Post
Two people, whose opinions I respect very much, independently made the following claim to me recently: “The great frauds of the late 1990s/early 2000s (Enron, MCI-Worldcom, Lernout Hauspie, etc) are a thing of the past… those types of frauds are likely never to happen ever again.” My gut reaction to their belief was that they are wrong, and I told them as much (isn’t it ironic these two made this claim, just as US markets hit all time highs?). Rather than relying on my instincts, however, I decided to look into the evidence.
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