Rudy: Open For Business

Is Rudy Giuliani, hero of Sept. 11 and a former Mob-busting federal prosecutor, really taking his sterling reputation to--gulp!--WorldCom? The place is a disaster: home to at least $9 billion in accounting fraud, $120 billion in vaporized shareholder wealth and the largest bankruptcy in history. Giuliani is not being asked to run WorldCom (that falls to Michael Capellas, former No. 2 at Hewlett-Packard, who accepted the ceo job last week). But Giuliani has aligned with a group headed by bond investor David Matlin that is trying to seize control of WorldCom in bankruptcy court. Some bondholders want Giuliani to serve as...

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