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Going Private: Blame The Bankers

Going Private: Blame The Bankers

by Rick Turoczy on August 10, 2006

Abnormal Returns points today to Daniel Gross’ Slate.com article that insists the real reason behind the flight of IPOs from Capital Markets in the United States is not what should be the obvious answer, “Sarbanes Oxley.” Instead, Gross insists it is that the United States isn’t any good at IPOs anymore, citing, among other reasons, the investment banking expense.

Setting aside for a moment my constant amusement with financial reporters who believe that $3.5 million is a lot of money; and with reading an article that asserts that the costs of SarOx are insignificant without outlining the costs of SarOx, this, of course, is silly analysis. In my view anyone who dismisses the impact of SarOx on U.S. Capital Market competitiveness just isn’t paying attention.

Going Private: Blame The Bankers

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