Three Cheers For Byzantine Government Regulation!: Quote Of The Day

From the American Banker Morning Scan for Friday, January 25, 2008, commenting on the monster kick to the capital nads recently suffered by France’s Société Générale after it announced that heretofore unremarkable trader Jérôme Kerviel managed to lose, undetected, over $7 billion in bad futures trades:

“We’re guessing this won’t be the day we hear a lot about the competitive disadvantages of Sarbanes-Oxley.”


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