May 25, 2006

The Enron Verdicts Are Proof that Sarbanes-Oxley Wasn’t Needed

Filed under: Economy, Stock Schlock, Taxes & Government — TBlumer @ 4:06 pm

So who should care what anti-economic growth co-conspirator Mike Oxley (alleged R-OH) has to say (Investment News link requires subscription) about the verdicts?

“Justice has been served today,” said the Financial Services Committee chairman in a statement released shortly after the verdict was handed down.

“The entire debacle reminds us of the need for The Sarbanes-Oxley Act to help reinforce the duties of company directors and officers.”

The verdicts of course prove no such thing. They prove that the system worked before SarBox. It remains to be seen how it will work after it.

2 Comments

  1. He needs to be introduced to the Latin term “ex post facto.”

    Comment by LargeBill — May 25, 2006 @ 6:56 pm

  2. #1, He’ll probably claim the Enron scalp on his resume at whatever lobbying firm he ends up at.

    Comment by TBlumer — May 25, 2006 @ 7:00 pm

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