Siemens embezzlement scandal

I've gotten some email over the last couple of weeks complaining that I'm being too hard of Siemens [1]. I don't think so. Siemens is one of the biggest telecom equipment companies in the world. A half-billion dollars embezzled and possibly paid in bribes. A former telecom division president arrested, the CEO's office searched by police. One deal to spin off a wireless infrastructure division put on hold. Other plans to divest an enterprise telecom division on the rocks until this is all sorted out. No, this developing story may be uncomfortable, but it's plainly one of the biggest and most important telecom stories of the year.