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September 24, 2008
COMING NEXT, A SPECULATIVE BUBBLE IN REGULATION? Plus this on Sarbanes/Oxley: "SOX was sold as the way to prevent future market bubbles and crashes. Obviously, in addition to imposing huge costs, it utterly failed to deal, not only with some indefinite future, but with problems that were already brewing at the time SOX was enacted. Indeed, SOX may well have hurt by helping to make investors complacent. Enough is enough. Let’s try to think before we leap again off the regulatory cliff."