There is no doubt in hindsight that Sarbanes Oxley was a mistake as we watch the blob of bureaucracy move into the private sector. There is no doubt that Sarbanes Oxley’s real costs have been passed onto the consumer and citizen like a giant tax increase of Boston Tea proportions. Many people wonder if Senator Sarbanes and Oxley should be brought up on charges of treason. Absolutely they should. Many people wonder if death by hanging is too harsh? Of course it is not.
Over 7 trillion dollars has been lost from the stock valuations since the introduction of Sarbanes Oxley. Seven trillion dollars is quite significant indeed. The Sarbanes Oxley Act was a politically motivated maneuver to take advantage of the disdain for Corporate Executives accused of fraud in the mass media court of public opinion. Yet all the real courts of law have acquitted most of the corporate executives of any wrongdoing. Except for Martha Stewart in which the Justice Department put up an FBI agent on the stand who perjured himself in order to get the conviction. Martha Stewart was not up on fraud charges; they accused her of lying to an investigator. Whether she did or not is irrelevant because the government lied itself under oath to convict her.
Today we are seeing Elliot Spitzer’s first shoe in cases get thrown out. We are watching executives walk. We are seeing the over turning of the Arthur Anderson case, which the Justice Department was so sure of and which caused 28,000 partners to lose their pensions. Some look at the Sarbanes Oxley Act as political shrewdness on the Senators parts for properly judging the poles and surveys of the people at a time they had been bombarded with anti business sediment by the “Build Them Up and Burn Them Down Media.” After all Elliot Spitzer’s cases are more about his upcoming bid for State Governor of NY than reality.
Ayn Rand warned us about these types of things, yet we are not listening to her sound advice from outside the box looking in. Instead we allowed Senator Sarbanes and Oxley to introduce bogus legislation attempting to regulate morality when some would say they lack any sense of morals themselves. After all how can a Senator or wannabe future governor impede free enterprise and capitalism in a republic to which they belong, when they knew or should have known the obvious consequences of further over regulating the very corporations and businesses which deliver our civilization everything we see, every where we go?
Should Sarbanes, Oxley and Spitzer be shot for treason? Many believe they should. What do you think of such scoundrels of this great nation? Do they really deserve a second chance? Many say no, what say you?
"Lance Winslow" - Online Think Tank. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/
What do you think about this article? Do you agree or disagree with it? Be the first to comment on this article, and share your thoughts with the world. No registration is required to post comments.
According to Rebecca Gill, Vice-President of TGI Ltd.,
"Enterprise 21 is a fully integrated ERP software package
developed in a closed system approach that has built in controls
necessary to obtain SOA...
Sarbaines Oxley was probably the easiest way to destroy free enterprise and it could be the quickest way to losing our government. If Agencies were forced into the same standards as the business community then
We know that in Maryland, which some call "Merry Land" due to its completely liberal skew that Sarbaines Oxley laws were born. These laws no matter what anyone will tell you, have done more to upset our...
People hate it when they start to get older. The signs of aging appear so fast that people never really notice them until it is there. This causes a reality check that they are really getting older. For...
The electronic check has definitely become one of the major payment techniques during the past few easier. The three types of electronic checks are the check by fax, check by phone and check by email. These...
What to Look for in a Reality-Based Women's Self-Defense Program Jeffrey M. Miller Anyone truly serious about finding a good, reliable, and quality women's self-defense program should first do everything...
When people are upset at their government, they often do not who to blame, some are merely frustrated and upset. They know that they have so say, they know if they make a statement they will be attacked....
Many years ago I worked on a committee in the 38 billion dollar red state of California. We worked with the TMAs - Transportation Management Associations and tried to figure out ways to get people to car pool,
It is amazing the success of Reality TV. Survivor, You're fired, and the Contender have blown out all other television shows. They are realistic, interesting and fun to watch as people interact in high...
The post Second World War years were an age of affluence for many countries, but particularly the United States because their plant and infrastructure was unscathed and they made a lot of money supplying...
Helping the homeless requires various steps starting from outreach programs that aim to reach homeless people on the streets and get them into emergency shelters.
No one wants, or should have, to endure the distress, hardship, and frustration of being denied entry into the United States because of a criminal record in Canada that remains on the Canadian Police...
Do you feel as if you've reached the end of your dead-end job? Are you frustrated trying to reach new business goals or feel held back in achieving real project success?
With the January sales just gone, most women across the globe would agree that there is nothing like a good shop. Whether it's for you or someone else, shopping offers a therapy unlike any other. You feel...
Identification cards are playing a major position in our current lifestyle. There are various types of cards available in the market at present, which can help us to acknowledge your self and your organization
Whether or not attending a celebration, marriage ceremony of a friend, or Christmas celebration, the very first thing which comes to thoughts is an acceptable gift for the occasion. Many gift hamper...
Drilling machines are equipment which is used to make holes in mortar walls and different kinds of material. These machines are used for business as well as domestic purposes. The forms of drilling machines...
It seems like whenever we open the financial news we see the unions suing a company or going on strike, claiming the company is cheating them, over working them, unsafe work place, not enough benefits, low pay
No one in the World can debate that Saddam was a killer and dictator lacking moral judgment and values. A perfect example that absolute power corrupts absolutely as he massacred the Kurds for which he did...
Some have said that the haves and have nots, disparity will lead to dissension, rebellion and death. And they point out that capitalism when introduced into an emerging nation state will accelerate such...
In the operation of blimps one thing that is extremely important is making sure the gas does not escape. If the gas escapes from a lighter-than-air aircraft it will slowly float back to the ground. If it leaks
After the latest Hurricane of Katrina and Rita on the Gulf Coast many Americans are asking themselves; "where is the safest city in the United States?" Indeed this is a good question; where is the safest...
We have all heard people tell us that the root of all evil is money. Some of us have heard people say follow the money and you will find a felon jelling. These are interesting comments, however if you...
Many consumers in America have substantial debt. In the average case a consumer has 1.5 times annual earnings in short-term debt; credit cards and car payments. This is frightful as many Americans if they lose
Article: Sarbanes-Oxley Reality Check On Bureaucracy Author: Lance Winslow Publication Date: 2007-06-16 Total Views: 496 Word Count: 498 Category:Home /
Society
Categories
