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Ideoblog: Sarbanes-Oxley debacle

Ideoblog: Sarbanes-Oxley debacle

by Rick Turoczy on March 14, 2006

Larry Ribstein provides still more sterling insight into Sarbanes-Oxley, shares links to his presentation at AEI, and continues to vent his spleen on the “mistake” that is the Sarbanes-Oxley Act. As always, well worth the read:

Henry Butler and I, with expert commentary from Peter Wallison, Alex Pollock and Rich Booth, made our case today at the AEI for repeal or drastic revision of Sarbox. You can view the video, the revised slides, and an early draft of the forthcoming monograph.

So my brain has been filled with SOX. I promise that this is my last lengthy tirade on this subject, at least for awhile. But I can’t resist one more shot. Tomorrow it’s back to the more typical diet of postings on various subjects.

The bottom line is that SOX was a colossal mistake. For those with any doubt, see our summary of SOX costs (slide 15), and some recent evidence (slide 16). Moreover, Congress gave virtually no consideration to potential costs – there was no time for that in the hasty, panic-stricken atmosphere in which SOX was hatched.

Ideoblog: Sarbanes-Oxley debacle

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