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The Big Picture: Read it here first: The Cost of Sarbanes-Oxley

The Big Picture: Read it here first: The Cost of Sarbanes-Oxley

by Rick Turoczy on June 26, 2006

It is a rather annoying tendency of politicians — and their empty-headed acolytes — to use and abuse of data and charts. One of the more egregious recent offenders was the laughable assertion put forth by an accounting professor Ivy Zhang that Sarbanes-Oxley cost more than $1.4 trillion dollars.

Zhang proves that understanding how to do mathematics does not mean one actually understands what the numerals being added together actually represent. Her incompetent analysis calculated the drop in stock market capitilization during July 2002 — the period just before the legislation was passed, and concluded that was the cost of the legislation.

The only explanation for that kind of reasoniong is blunt head trauma.

The Big Picture: Read it here first: The Cost of Sarbanes-Oxley

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