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Bainbridge on the SOX lawsuit
In this TCS Daily op-ed, the inimitable Professor Bainbridge takes up the lawsuit filed in Washington last week in which an activist think tank asserts that that the Sarbones-Oxley Act's Public Company Accounting Oversight Board (nicknamed the "Peekaboo board") is...
The myth of the government cure-all
Sometimes it's hard to keep up with all the muddled thinking that is passed off as keen economic insight in much of the mainstream media. My thoughts along these lines started last week with this David Ignatius/Washington Post op-ed in...
Take this auditing job and shove it
So, how would you like being an auditor? First, Arthur Andersen was prosecuted out of business by the Justice Department in an ill-advised prosecution. Next, KPMG almost melted down in the face of a criminal investigation into its promotion of...
How about decaf?
This article confirms that regulation of drug use in professional sports is approaching Sarbones-Oxley levels of absurdity: SYDNEY, Australia (AP) - The World Anti-Doping Agency will consider restoring caffeine to its list of banned substances after Australian Rugby Union captain...
More on the negative impact of Sarbanes-Oxley
William J. Carney is the Charles Howard Chandler Professor of Law at Emory Law School, where he specializes in business associations, securities regulation and corporate law. In this new SSRN paper, The Costs of Being Public After Sarbanes-Oxley: The Irony...
To regulate or not to regulate? That is the question
The New York Times sometimes has trouble sorting out business news items because of its bias in favor of greater government regulation over capitalist roaders. On one hand, this NY Times Sunday article on the struggling airline industry suggests that...
An annuity for auditors
Don't miss Holman Jenkins, Jr.'s Business World column this week in the Wall Street Journal ($) in which he reviews the rather remarkable effects of the Sarbanes-Oxley legislation, which was Congress' knee-jerk public relations reaction to the WorldCom and Enron...
The importance of good timing in going bust
This NY Times article provides a fine report on the demise of Global Crossing, Ltd., the telecommunications company that went down under suspicious circumstances at the same time as Enron Corp. was cratering. However, unlike Enron, the Justice Department established...
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