The cost of doing the accounting and meeting those rules hinders small businesses. And the markings of assets and the data required to mark those assets is another cost associated with it. I liked Newt's idea of taking a 3 year average to avoid the massive swings in the balance sheets.
Horribly written and horribly enacted, that can't be denied; but it made me quite a bit of money.....
Setting aside the merits of this argument, how is the cost of Sarbanes-Oxley relevant to the current crisis? Newt's argument that SOX didn't prevent AIG et al. is a non sequitur because the cost of SOX regulations has nothing to do with the practices that caused the current banking crisis. Gingrich is using a banking crisis that many experts argue arose from a lack of regulation and to feed a deregulation argument in the form of repealing SOX. Talk about wagging the dog.
