On July 13, 2005, WorldCom CEO Bernie Ebbers, who had been convicted of fraud and conspiracy four months earlier, was sentenced to a 25-year prison term. It was the largest accounting scandal in US history, until Bernie Madoff’s Ponzi scheme was uncovered in 2008. I remember Ebbers’ sentencing well, because I had just joined the faculty at the University of Michigan’s Ross School of Business and was struck by the fact that no one was talking about it. Ebbers was a man that would have been held up as a model of success for our students, building the second-largest long-distance phone company in the country. But now he was a disgrace.