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FRONTLINE investigates what New York's attorney general has called
Wall Street's "corrupt business model"that costs American investors
trillions.
As WorldCom CEO Bernard Ebbers - found guilty of securities
fraud, conspiracy and filing false documents with regulators -
faces sentencing for his crimes, FRONTLINE traces WorldCom's
stunning rise and fall in this investigation of what New York
Attorney General Eliot Spitzer calls Wall Street's "corrupt
business model," which cost American investors trillions. Examining
the high profile example of WorldCom, the hottest stock - and then
biggest bankruptcy - of the 1990s, correspondent Hedrick Smith
uncovers the hidden ties that enabled superbanks and Wall Street
insiders to shape and profit from the telecom boom while leaving
ordinary investors holding worthless stock when the bubble burst.