Bad News Bernie

This just in! John Rigas and his son Tim Rigas will spend 15 and 20 years respectively behind bars, and that just could be the kind of news that would make Bernie Ebbers quaking in his boots. He is expected to be sentenced on July 13, and soon there after many of his underlings are likely to get their future read to them. Dennis Kozlowski and Mark Swartz get their due on August 2 and two days later it will be the turn of accounting wunderkid Scott Sullivan of WorldCom. “Ebbers was the CEO of the biggest fraud in history,” Seth Taube, head of litigation in the New York office of Baker Botts LLP tells The Wall Street Journal. “It’s hard to imagine a more compelling case for a severe sentence.” Amen to that!

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