Edgelings

Repeal Sarbanes-Oxley - A Newt Gingrich Op-Ed

Even Mike Oxley, the author of the legislation, has said the bill was passed in haste and, in retrospect, he would have written it differently. In the six years since it was enacted, Sarbanes-Oxley has hung like a sword of Damocles over the neck of American business, a deterrent to the entrepreneurship that is key to US economic growth. Estimates are that is has cost US businesses over $200 Billion and counting( see S-O clock – right) and has been a critical factor in the evaporation of IPO’s.  The former Speaker of the House says it’s time to go.