Daily Archives: April 19, 2011

Nine years ago, when he was chief executive of Sprint, Bill Esrey told me how he and his team had strained to match WorldCom’s impressive quarter-on-quarter profit growth. They could not, and they later found out why: Sprint’s arch-rival had been inflating its income by manipulating its reserves in an $11bn fraud that dumped its chief executive Bernie Ebbers into jail and the company into bankruptcy protection.