Thursday, 30 July 2009

S-O - 7 Today!

Will the Sarbanes-Oxley morons - Paul and Michael - the pair of US politicians who gave America the eponymous Act in response to its corporate and accounting scandals, be celebrating their love child's seventh birthday today?
Possibly not. Despite the current climate, the Act is still blamed for costing Wall Street billions, with Hoover's noting as recently as 2008 that it was: "cooked up in the wake of accounting scandals earlier this decade, it has essentially killed the creation of new public companies in America, hamstrung the NYSE and Nasdaq (while making the London Stock Exchange rich), and cost US industry more than $200 billion by some estimates."

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