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On Second Thought…

On Second Thought…

by Rick Turoczy on September 29, 2006

Former Federal Reserve Bank Chairman Alan Greenspan said this week that the Sarbanes-Oxley corporate governance rules are stifling. Strong words from a man who once supported the law.

Just last year, Greenspan was complimentary of Sarbanes-Oxley, which was passed and signed ostensibly to prevent public corporation accounting messes such as the ones that roiled Enron, WorldCom and Adelphia Communications and outraged the public, which played into the media’s overreaction.

“I am surprised that the Sarbanes-Oxley Act, so rapidly developed and enacted, has functioned as well as it has,” Greenspan said as recently as May 2005.

On Second Thought…

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