I Just Saved NYC Taxpayers $200,000

New York City is going to spend $600,000 for McKinsey to study why the NYSE has lost virtually all of its IPO business to London. Unbelievable. In competing for business versus the NYSE, London Stock Exchange officials tout not having onerous regulations like Sarbanes-Oxley. CEOs at companies that go public say that they choose to list in London because they want to avoid Sarbanes-Oxley. Many US companies are going private to avoid Sarbanes-Oxley (more here).

So as a favor to the taxpayers of New York City, I will offer up my services to analyze this problem for considerably less than $600K. I'll do it for, say, half that. And NYC won't even have to wait for my report, here it is:

"S-A-R-B-A-N-E-S - O-X-L-E-Y"

Here's a bonus tip for the New York Economic Development Corporation. For a few extra bucks, say $100K, I think Don Luskin would happily add to my analysis..."runaway litigation, or the depredations of predatory states attorneys general like Eliot Spitzer."