Friday, June 5, 2009

PCAOB - An unnecessary evil

Steve Forbes found an evil agency in the Public Company Accounting Oversight Board (PCAOB), a creature of the onerous regulations of Sarbanes-Oxley. They are busy-bodies that are not only non-elected, but are selected by non-elected appointees of the SEC, who are in turn vaguely accountable to sorta-nobody. Oh, and they missed the Refco blowup. Yet they indulge in unnecessary regulations of trivia like computer password security.

He said evil? I think they must have this guy running the agency ...

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