From Today's Sydney Morning Herald
(27/06/02)
"More than $10 billion was wiped off the Australian sharemarket yesterday as the United States telecom giant WorldCom headed for the world's biggest corporate accounting fiasco, eclipsing even Enron."
Most of the heavy weight players have had losses, some more than others. It went onto say that its cash flow had been inflated during the last four years. That has also been happening to Australian companies of recent times which has seen big insurance companies go down.
Clive
