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by jbooth
5639 days ago
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Sarbox adds additional accounting procedures, with the goal of preventing another Enron or Worldcom, where lax accounting procedures meant that they were telling their investors "everything is fine!" one day and "we're bankrupt, your stock is worthless", the next. The contention is that these additional procedures disincenvitize companies from going public. My counter-contention is that they're a very small drop in the bucket compared to the pre-existing incentives and disincentives. |
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And Facebook isn't exactly "at the margin" either, where that drop in the bucket might make a difference.