Summary of Broadbandits
Inside the $750 Billion Telecom Heist
What was bigger than the dot-com bust, but just as fueled by hype and greed? The broadband bubble, a bandit-led debacle.
If you’ve glanced at your retirement account balance or brokerage statement in the past few years, you no doubt have felt the effects of the broadband bubble. Less publicized than the 2000 tech wreck, the broadband meltdown was every bit as costly. Journalist Om Malik gathers the varied tales of telecom shenanigans and then adds up the stock sales so you can see how much the broadbandits took. Malik’s engaging and vitriolic writing style is fun to read, and he makes the intriguing assertion that the telecoms outdid the dot-coms in terms of sheer greed and gall. getAbstract.com suggests this book to investors who hope not to get burned, and to executives responsible for safeguarding shareholder value.
In this summary, you will learn
- Wall Street analysts and the media helped create the bubble.
- How the broadband bubble occurred; and
- How WorldCom and Qwest overreached and fell on hard times.
About the Author
Journalist Om Malik is a senior writer for Business 2.0 magazine in San Francisco. Malik previously worked for Red Herring and Forbes Online. His articles also have been published in The Wall Street Journal, Brandweek and Crain’s New York Business. Malik worked briefly as a venture capitalist.
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