This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Five Dumbest Things on Wall Street This Week

1. Borrowin' Bernie Strikes Again

Bernie Ebbers wants more money from MCI (MCIP).

Yes, we know. Dog bites man.

Ebbers, of course, was the CEO on whose watch some person or persons at MCI -- then known as WorldCom -- committed an $11 billion accounting fraud. Whether Ebbers himself is one of those fraudsters is slated to be decided in a trial starting next month.

What is more certainly known is that Bernie had a particular talent for enjoying WorldCom's largesse when most employees couldn't. He did, after all, borrow more than $400 million from WorldCom in low-interest loans at a time when the company cut back on free office coffee. And when WorldCom went bankrupt, thanks to the downward spiral in which Ebbers led it -- well, employees lost upwards of $1 billion in retirement savings.

But when Bloomberg reported Tuesday that Ebbers wants MCI to pay his legal bills -- up to $2 million and counting -- were we outraged at his chutzpah?

Nah. However his trial turns out, Ebbers is way in the hole and he isn't coming out. To cut off his money right now is like refusing the proverbial last cigarette to a man facing a firing squad, on the grounds that he really should quit smoking.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AIG $55.82 0.00%
CMCSA $60.76 0.00%
DIS $103.26 0.00%
INTC $30.28 0.00%
MSFT $49.87 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs