Friday, November 06 2009
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Regulation
Pulling the teeth of Sarbanes-Oxley
Publication Date: 11/05/2009
Source: International Herald Tribune
It took just five weeks after the WorldCom accounting scandal erupted in 2002 for the U.S. Congress to pass, and President George W. Bush to sign, the Sarbanes-Oxley Act. It took three more years for Bernard Ebbers, the man who built WorldCom into a giant, to be sentenced to 25 years in prison for his role in the fraud. Mr. Ebbers will be 85 before he is eligible to be released from prison.
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