Sorry, but I would definitely call much of Sarbox needless regulation.

This regulation has led to litterally billions of dollars leaving the US and thousands of jobs. It might be good for auditors, but it is not an efficient use of capital for creating jobs that matter and jobs that will increase economic activity for everyone.

How many tremendous companies won’t be doing IPO’s in the U.S.and instead in Hong Kong or Japan? How many companies will stay private, so as to not have to comply with Sarbox? (Actually, this regulation might make things worse since there will be more private firms and more offshore companies.)

How much of a net-job loss will this be for the US because this needless regulation? Try thousands.

Instead of regulating these companies wouldn’t it be better to preach the virtues of appropriate asset allocation and due dilligence so that investors can protect themselves from these malicious acts?

Instead of spending billions to regulate and losing billions in return because of our inability to compete with other economies, why not realize that some people will make stupid mistakes and speculate by putting all their eggs in one basket? Perhaps we can help them if they are hurt from an unforseen event or act, but why sacrifice literally thousands of jobs and billions of dollars to prevent this? As to punishing those that commit fraud, we have plenty of state and federal laws to deter most people. Some will get around the laws, but that is life.