President Bush Speaks Out On WorldCom Scandal

President Bush calls reports of WorldCom's disguised $3.8 billion in assets outrageous.

The president says the government "will fully investigate and hold people accountable.''

Bush said he fears the pending bankruptcy would hurt "not only shareholders but employees as well.''

He says the latest evidence of corporate irresponsibility has hurt the United States stock market. Bush said the Securities and Exchange Commission and the Justice Department will investigate.

WorldCom owns the nation's Number Two long-distance carrier MCI. The company reported the disguised the expenses Tuesday.