Why blame capitalism, when the failures have been because of interference by the regulatory agents? Enron's only existance was based on bartering government contracts, and surfing regulatory waves. As soon as the light was turned on, they vanished like the shadow of a "real" company they were. No actual business, just games.
Worldcom has cables in the ground, customers, employees, facilities, etc. These are resources of value, and although the paper owners may change that value remains.
Capitalism hasn't failed, capitalism is working just fine to destroy the phantoms like Enron, and correct the errors in inefficient efforts like Worldcom has turned into.
Bob-
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