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Trillion Here, Trillion There
Back when Enron was a big deal, Congress passed the Sarbanes-Oxley law, which holds CEOs a lot more accountable for financial statements. What's it all costing? Try around a trillion bucks. If you're wondering why it seems the economy is stuck in the mud, consider that a leading economist found that the new law provided no economic value at all. For the full report of how much this is consting, click here.
It's my belief that this is only the tip of the iceberg. SarBox has consequences that are still being analyzed for firms that do software development, and how many firms don't do devevelopment?
It all goes to show that the American political system is based on gridlock -- the point is that new laws are given careful consideration. When something happens that sparks public anger, nine times out of ten a reactionary law is not a good solution. Some of these solutions hurt worse than the original problems.
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