New Book on Sarbanes-Oxley

David Scheonbrod has used Sarbanes-Oxley (SOX) to make his more general point that government regulation by open-ended grants of authority to federal agencies is costly and wrong-headed.  Schoenbrod, Saving Our Environment from Washington (Yale, 2005).  He notes that Congress, in SOX, delegated to the SEC and PCABO the power to impose accounting for "internal controls" on firms without specifying what the term meant.  The result is regulatory chaos, as as been noted in this blog. Post