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BIG SHOTS SAY SARBANES-OXLEY FITS JUST FINE

February 23, 2006

The TickMarks blog points out that a group of big shots, including Paul Volker, Arthur Levitt, and John Bogle, have signed a letter opposing any modification of the Sarbanes-Oxley rules to accomodate smaller companies.

I have a hard time believing that the same regulatory regime that's right for Microsoft is right for a company with $10 million in annual revenue. Oh, well; that's the majesty of the law. Just as it forbids rich and poor alike from sleeping under bridges, it also requires big and small alike to hire swarms of $400/hr consultants to participate in public equity markets.

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