Lessons from Bear on Sarbanes-Oxley: We didn't need it, and it didn't do any good

http://busmovie.typepad.com/ideoblog/2008/03/lessons-from-be.html

by dpapathanasiou • 18 years ago

3 5 18 years ago

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pohart3• 18 years ago

What's with all these speed limits? People still get murdered. There are two lessons in this. We don't need speed limits, and they don't do any good

dpapathanasiou2• 18 years ago

Not exactly: if you go over the speed limit, you are definitely increasing the risk of an accident (people still do, and accidents happen, but that's beside the point).

But did SOX show any red flags for Bear? None that I'm aware of.

If SOX was working according to how its authors intended, we would have seen the warning signs much earlier.

As it exists now in practice, SOX is just a paperwork albatross.

pohart3• 18 years ago

What I'm saying is that just because a particular set of regulations didn't help in a particular case doesn't mean that regulation is worthless. SOX was created primarily intended to prevent the type of gross-mismanagement that brought down Enron.

Lessons from Bear on Sarbanes-Oxley: We didn't need it, and it didn't do any good

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