Thursday Aug 25, 2011
This article written by the CEO of an investment firm in Arkansas lists five suggestions for reigning in out of control regulations. Notice the last is that SARBOX has been a deterrent to companies going public, indeed many may increasingly go private just to escape costly compliance.
I find most of these suggestions band aids which do not address the problem. Dropping one regulation to pass another, Mark Warner's proposal, is the classic treat the symptom not the problem.
Agencies simply should not have the power to arbitrarily pass costly regulations with no hearings much less any consequences to the agency writing the regs.
We are entering a severe bear market, see www.themarketperspective.com. This bear market will be and is driven by negative social mood. This and the last post are proof positive, voters want another political party, business is withdrawing as fast as it can from this over regulated environment. Business is afraid to hire or expand, what will be regulated next?
All of this has serious ramifications for a college student. Business pulls back, job offerings narrow. I note that more and more authors cannot see a viable leader anywhere in the world, do you? This is all part of the bear market in negative social mood. People are unhappy with leaders, just look at Libya. Russians are the least satisfied of all Europeans with their lot in life. No wonder the population of Russia is shrinking, no one wants to bring a life into that world, period. Protestors are on the march around the world, and the bear market is just getting underway again.
Not of course that Putin cares; his goal is to project Russian power across East Europe. And so it goes.
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