Comment moby duck (Score 1) 368
We all know that correlation isn't causality -- but the trouble with the argument put forth by Michael Malone (actually, echoed by him; it's an old argument) is that it doesn't even have correlation behind it. I have a hard time seeing correlation between the passage of Sarbanes-Oxley and the tanking of IPOs. IPOs tanked before SOX (and not surprisingly, just after the tech bubble burst). After SOX, they were on the rebound. This year they have tanked again (and not surprisingly, in one of the worst economic climates in recent times). Look it up. One may not like SOX, and there are certainly things about it that can be criticized, but it sure is hard to tie it to downswings in IPOs.