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Repeal SOX? Count me in!
Techdirt applauds new efforts to repeal or rework Sarbanes-Oxley, the overwrought post-Enron accountability laws and the mass of new compliance rules and regulations that resulted from them.
As someone who lives with the overhead of these regulations every day, I agree, it's time to take another look.
Both blogs
I am in total agreement with you! The monthly paper work is a nightmare.
I realize some folks might look at this post, then remember me complaining last week about nonpolitical-themed sites turning political, and call me on it. Fair enough!
To be clear: The moral/ethical/political/economic principles behind SOX remain sound. I offer no excuses for executives who keep the books on "simmer." And I stood in that same line of people insisting on action when all the excesses of Enron, WorldCom and Tyco came to light.
But our Congress works in broad strokes, as it did with SOX, assigning the regulatory flourishes to various bureaucracies. In those details came the problems, the bloat and the cost. So my bias goes against the implementation, not the principles; thus, on that nuance, I'll maintain this post isn't really political.
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