Sarbanes-Oxley: Simply Awful, Part X

In December I posted about how Londoners were gloating over the new-found competitive advantage they have over New York in attracting stock listings, thanks to Sarbanes-Oxley. For those of you who don't read pink foreign papers, the news has hit stateside in good ole' white newsprint.

So here is a recap of what Sarbanes-Oxley has meant for us:

• less competitive US capital markets;
• smaller companies fleeing our public markets;
• no actual fraud prevention (e.g. Refco);
• billions spent on non-productive compliance costs.

This bill is hurting the US economy and should be repealed.