One thought on “Occupy the SEC Letter to the House Financial Services Committee on Sarbanes-Oxley

  1. Sarbanes Oxley has not met any of its goals of improving the quality of auditing or preventing fraud. It did not prevent Lehman, AIG or the LIBOR scandal and the list goes on and on. Sarbox is very expensive: including enormous direct and indirect costs to our economy and to innovation. The effects of this law include fewer public companies, fewer companies going public, more companies choosing to go public in foreign markets, absurdly high auditing expenses and a significant decrease in risk capital. SOX has also increased the concentration of the capital markets. SOX is a failure and should be completely repealed.

    For More information see Sarbanes Oxley – Is the Medicine Worse Than the Disease – 1 (http://hallingblog.com/2009/06/17/sarbanes-oxley-–-the-medicine-is-worse-than-the-disease-part-1-background/) and Sarbanes Oxley – Is the Medicine Worse Than the Disease – 2 (http://hallingblog.com/2009/06/18/sarbanes-oxley-–-the-medicine-is-worse-than-the-disease-part-2/)

    Dale B. Halling, Author of the “Decline and Fall of the American Entrepreneur: How Little Known Laws and Regulations are Killing Innovation.” http://www.amazon.com/Decline-Fall-American-Entrepreneur-Regulations/dp/1439261369/ref=sr_1_1?ie=UTF8&s=books&qid=1262124667&sr=8-1

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