Thoughts about SOX, it came up in class this week and the response from all involved in the discussion was spectacular. The negativity expressed amazes me in the wake of Enron, Tyco, Worldcom, Adelphia and others prior to SOX and the entire banking system, futures trading, and Madoff style ponzi schemes post SOX.
I sat in silence because the conversation was speedy enough to not need stimulation to get more information. Those who have had to operate in the confines of SOX know that they have to jump through hoops, and that SOX needs review and modification especially in the wake of Madoff who appears to have been able to manipulate $50 Billion while the oversight committee was notified yet did nothing… I’m gathering information, but so far, SOX appears to have been somewhat limp in protecting the economy from gaming by unethical practices.