Taken to account

Former Worldcom CEO Bernie Ebbers is going to Federal prison for a very long time. Larry Kudlow blogged his thoughts on the verdict earlier today.

At the end of it all, I'm reminded of something one of my MBA-profs said one night in class. It was sort of an aside as accounting per se is not part of Price theory but he said it anyway.

"I have former students in Federal prison because they wouldn't listen to me. Listen, please listen to me when I say this: if you juggle accounts or otherwise play fast-and-loose with your accounting, you will get caught and you will go to prison!"

Yes, yes you will.