Sunday, April 08, 2007

What Sarbox Wrought -

"On this view, the additional regulatory freight brought into play by the 2002 Sarbanes-Oxley Act should have been a godsend. By restoring the confidence in U.S. corporate governance that had been shaken by the Enron-era corporate scandals, America would assure its continued dominance of world capital markets well into the new millennium.

Alas, things have not quite turned out that way. Whatever good might be said of Sarbanes-Oxley (and there isn't much good to be said for its intrusive, circulatory and duplicative grab-bag of rules), the statute has triggered a complete change in the way the world views the U.S. as a center for capital formation."

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