As the WorldCom scandal broke, the National Association of Public Pension Attorneys was holding its annual convention in Chicago.
The WorldCom scandal was Topic A among the 350 lawyers, most of whom work for public funds.
He was recalling, specifically, the moment the WorldCom scandal broke in June 2002.
The WorldCom scandal was, until the Madoff schemes came to light in 2008, the largest accounting scandal in United States history.
"We made it out of committee before the WorldCom" scandal, Mr. Sarbanes said in an interview on Friday.
Bernard J. Ebbers, indicted this week in the WorldCom scandal, is the boss who held on.
In 2004, Citigroup agreed to pay $2.65 billion to settle a class-action suit brought by investors over its role in the WorldCom scandal.
Files relating to Citigroup's connection to the WorldCom scandal were lost.
The WorldCom scandal began last June, when the company disclosed that Mr. Sullivan and other executives had been essentially reporting one type of expense as another.
Mr President, when we first discussed the issue of corporate governance following the high-level group's report, it was in the context of Enron and the WorldCom scandals.