The Maestro Adds His 2 Bits...SARBOX Stinks
I am glad to know that Alan Greenspan has been reading my many blog posts on Sarbanes-Oxley and agrees with me.
Also, the less distinuished former SEC Commish, Harvey Pitt, makes the case for amendment of SARBOX today in the WSJ.
Not a single person is saying that this is a good law, except for its namesake Sausage Factory worker Michael Oxley. This law is hurting our economy, it is what economists call a dead-weight loss. Unfortunately the usual time frame that it takes Congress to realize that it passed a bad law and amend it is something like 80 years.
Also, the less distinuished former SEC Commish, Harvey Pitt, makes the case for amendment of SARBOX today in the WSJ.
Not a single person is saying that this is a good law, except for its namesake Sausage Factory worker Michael Oxley. This law is hurting our economy, it is what economists call a dead-weight loss. Unfortunately the usual time frame that it takes Congress to realize that it passed a bad law and amend it is something like 80 years.
posted by Donny Baseball at 12:35 PM
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