WorldCom Collapses: Largest Bankruptcy in U.S. History
WorldCom filed for Chapter 11 bankruptcy, triggering the largest corporate collapse in U.S. history and exposing massive accounting fraud that shattered investor confidence in telecom stocks. This scandal forced regulators to tighten oversight on financial reporting and directly led to for the Sarbanes-Oxley Act of 2002.
July 21, 2002
24 years ago
Key Figures & Places
What Else Happened on July 21
Herostratus torched the Temple of Artemis in Ephesus, hoping to immortalize his name through an act of pure destruction. His arson leveled one of the Seven Wond…
Herostratus burned the Temple of Artemis to immortalize his name through infamy, an act that forced the Ephesians to rebuild the sanctuary with greater grandeur…
Pontian ascended to the papacy, inheriting a church still navigating the precarious legal status of Christianity within the Roman Empire. His five-year tenure e…
Diocletian elevated his fellow soldier Maximian to the rank of Caesar, splitting the Roman Empire’s administration between East and West. This pragmatic power-s…
A massive earthquake struck Crete with extreme intensity, triggering a catastrophic tsunami that devastated the Mediterranean coastline. The surge obliterated A…
The wave arrived on a summer morning, July 21st, 365 AD. No warning. Alexandria's harbor emptied first—the sea pulled back, exposing shipwrecks and fish floppin…
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