--- title: "Meaning & Key Takeaway of: Unfortunately, WorldCom is not the only…" description: "\"Unfortunately, WorldCom is not the only company caught up in this kind of accounting scandal. The impact this will have on the general public is yet to..." image: "https://sms4smile.com/quotes/i/731/bennie-thompson-27510_accounting_unfortunately-worldcom-is-not-the-only-c_2311632.png" --- # Unfortunately, WorldCom is not the only company caught up… ![“Unfortunately, WorldCom is not the only company caught up in this kind of accounting scandal. The impact this will have on the general public is yet to be seen.” quote by Bennie Thompson](https://sms4smile.com/quotes/i/731/bennie-thompson-27510_accounting_unfortunately-worldcom-is-not-the-only-c_2311632.png) [Download](https://sms4smile.com/quotes/i/731/bennie-thompson-27510_accounting_unfortunately-worldcom-is-not-the-only-c_2311632.png) [Open image](https://sms4smile.com/quotes/i/731/bennie-thompson-27510_accounting_unfortunately-worldcom-is-not-the-only-c_2311632.png) > “Unfortunately, WorldCom is not the only company caught up in this kind of accounting scandal. The impact this will have on the general public is yet to be seen.” [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Corporate scandals are not isolated; they ripple through the public, creating uncertainty. **In simple terms:** Scandals affect everyone. Key Takeaway Demand transparency and accountability. Themes ethics corporate governance public trust Mood concerned serious Type informative critical When to use this quote - investor confidence - consumer protection Key Concepts fraud detection regulatory oversight Questions to Reflect On - How can oversight improve? - What protections help the public? A Different Perspective Complex financial webs can hide true impact. ★ ★ ★ ★ ★ No ratings yet [Business](https://sms4smile.com/quotes/about/business/) [Company](https://sms4smile.com/quotes/about/company/) [General public](https://sms4smile.com/quotes/about/general-public/) [Impact](https://sms4smile.com/quotes/about/impact/) [Scandal](https://sms4smile.com/quotes/about/scandal/) ## Related quotes > [A free society depends upon a high degree of mutual trust. 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Cassidy > [There cannot be any impediment to science that will ultimately be good to the general public.](https://sms4smile.com/quotes/anonymous/there-cannot-be-any-impediment-to-science-that-will-ultimately-be/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [The general public have a warped view of the speed at which an investigation proceeds. They like to imagine tense conversations going on behind…](https://sms4smile.com/quotes/ben-aaronovitch/the-general-public-have-a-warped-view-of-the-speed-at-which-an/) [Ben Aaronovitch](https://sms4smile.com/quotes/author/ben-aaronovitch/) > [Architects mostly work for privileged people, people who have money and power, Power and money are invisible, so people hire us to visualize their…](https://sms4smile.com/quotes/shigeru-ban/architects-mostly-work-for-privileged-people-people-who-have-money/) [Shigeru Ban](https://sms4smile.com/quotes/author/shigeru-ban/) > [As has been reported, and is unmistakably evident to all but the most naïve, federal employees have been ordered to exploit this crisis, to…](https://sms4smile.com/quotes/paul-kengor/as-has-been-reported-and-is-unmistakably-evident-to-all-but-the-most/) [Paul Kengor](https://sms4smile.com/quotes/author/paul-kengor/) ## More by Bennie Thompson > [If you talk to the Whites in Mississippi they will tell you, 'You can go to any school you want to; we don't see…](https://sms4smile.com/quotes/bennie-thompson/if-you-talk-to-the-whites-in-mississippi-they-will-tell-you-you-can/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Rather than squander the surplus on tax breaks for the rich, we should add a prescription drug benefit to the Medicare program, shore up…](https://sms4smile.com/quotes/bennie-thompson/rather-than-squander-the-surplus-on-tax-breaks-for-the-rich-we-should/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Disaster preparedness, whether it's in anticipation of potential weather-related incidents or terrorist incidents requires a skill set that in my mind someone has to…](https://sms4smile.com/quotes/bennie-thompson/disaster-preparedness-whether-it-s-in-anticipation-of-potential/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [While I agree that homegrown terrorism and the jihadist threat deserve continuing attention, a single-minded approach ignores all other threats.](https://sms4smile.com/quotes/bennie-thompson/while-i-agree-that-homegrown-terrorism-and-the-jihadist-threat/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Even President Bush has cited the need to outlaw the practice of corporations making loans to their officers. 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We're not asking for special treatment for rural America,…](https://sms4smile.com/quotes/bennie-thompson/medicare-debates-in-congress-should-result-in-better-medicare/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Sending our young men and women into battle is perhaps the most serious course of action a Nation can undertake.](https://sms4smile.com/quotes/bennie-thompson/sending-our-young-men-and-women-into-battle-is-perhaps-the-most/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Medicare provided guaranteed equal coverage, something that the private sector could not](https://sms4smile.com/quotes/bennie-thompson/medicare-provided-guaranteed-equal-coverage-something-that-the/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [I've never really read any books about Washington, neither the politics nor the city.](https://sms4smile.com/quotes/bennie-thompson/i-ve-never-really-read-any-books-about-washington-neither-the/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [At home I have hunting magazines on my nightstand. I'm an avid hunter. I hunt every chance I get.](https://sms4smile.com/quotes/bennie-thompson/at-home-i-have-hunting-magazines-on-my-nightstand-i-m-an-avid-hunter/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Americans have almost been conditioned to believe that the majority of people who seek to do us harm are those of Muslim descent.](https://sms4smile.com/quotes/bennie-thompson/americans-have-almost-been-conditioned-to-believe-that-the-majority/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [I believe that if corporate America expects consumer confidence to be restored, they must first be honest with us.](https://sms4smile.com/quotes/bennie-thompson/i-believe-that-if-corporate-america-expects-consumer-confidence-to-be/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [We must maximize our efforts to counter violent extremism, radicalization and recruitment in the United States and stop using xenophobia and ethnic stereotyping.](https://sms4smile.com/quotes/bennie-thompson/we-must-maximize-our-efforts-to-counter-violent-extremism/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) > [Now, we are seeing many of these same companies face the truth about their financial standing. Congress is faced with the challenge of reforming…](https://sms4smile.com/quotes/bennie-thompson/now-we-are-seeing-many-of-these-same-companies-face-the-truth-about/) [Bennie Thompson](https://sms4smile.com/quotes/author/bennie-thompson/) [Explore all 20 Bennie Thompson quotes ](https://sms4smile.com/quotes/author/bennie-thompson/) ## More Accounting quotes > [We do not know enough about how the present will lead into the future. We shall never be able to say, "Ha! My perception,…](https://sms4smile.com/quotes/gregory-bateson/we-do-not-know-enough-about-how-the-present-will-lead-into-the-future/) [Gregory Bateson](https://sms4smile.com/quotes/author/gregory-bateson/) > [“Outer happiness has Diminishing Marginal Utility; the more it grows, the satisfaction decreases. Resort to inner happiness.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/outer-happiness-has-diminishing-marginal-utility-the-more-it-grows/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [Regulations for international accounting and funding will have to be examined to identify policies that inadvertently discourage institutional investors from putting their resources into…](https://sms4smile.com/quotes/jose-angel-gurria/regulations-for-international-accounting-and-funding-will-have-to-be/) [Jose Angel Gurria](https://sms4smile.com/quotes/author/jose-angel-gurria/) > [There is no business like show business. There is also no business like certified public accounting, but that doesn't rhyme as well.](https://sms4smile.com/quotes/craig-shaw-gardner/there-is-no-business-like-show-business-there-is-also-no-business/) Craig Shaw Gardner > [“With great goals, comes the high costs; both fixed and variable. Time is the fixed cost; efforts, variable. Spend passionately.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/with-great-goals-comes-the-high-costs-both-fixed-and-variable-time-is/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Financial statements are my novels, I am a Chartered Accountant.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/financial-statements-are-my-novels-i-am-a-chartered-accountant/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [The religious hypothesis, therefore, must be considered only as a particular method of accounting for the visible phenomena of the universe: but no just…](https://sms4smile.com/quotes/david-hume/the-religious-hypothesis-therefore-must-be-considered-only-as-a/) [David Hume](https://sms4smile.com/quotes/author/david-hume/) > [Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that…](https://sms4smile.com/quotes/warren-buffett/accounting-consequences-do-not-influence-our-operating-or-capital/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [By their victory, the 3rd, 4th and 5th Marine Divisions and other units of the Fifth Amphibious Corps have made an accounting to their…](https://sms4smile.com/quotes/chester-w-nimitz/by-their-victory-the-3rd-4th-and-5th-marine-divisions-and-other-units/) [Chester W. Nimitz](https://sms4smile.com/quotes/author/chester-w-nimitz/) > [“Invest in self-improvement, be it for learning, be it for earning.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/invest-in-self-improvement-be-it-for-learning-be-it-for-earning/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [“In the race to scale a startup, overlooking financial planning is like to building a skyscraper on shaky ground. True growth stems from decisions…](https://sms4smile.com/quotes/jason-hishmeh/in-the-race-to-scale-a-startup-overlooking-financial-planning-is-like/) Jason Hishmeh > [One of the things that we're missing from our political dialogue right now is the idea that the United States is a home. It…](https://sms4smile.com/quotes/stephen-miller/one-of-the-things-that-we-re-missing-from-our-political-dialogue/) [Stephen Miller](https://sms4smile.com/quotes/author/stephen-miller/) > [There's no business like show business, but there are several businesses like accounting.](https://sms4smile.com/quotes/david-letterman/there-s-no-business-like-show-business-but-there-are-several/) [David Letterman](https://sms4smile.com/quotes/author/david-letterman/) > [“Debit the knowledge; credit the books.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/debit-the-knowledge-credit-the-books/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) Browse all 352 Accounting quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Unfortunately, WorldCom is not the only company caught up in this kind of accounting scandal. 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