Federal Reserve chairman Alan Greenspan gave the commencement address at Wharton yesterday and was quoted as saying the following: “I am surprised that the Sarbanes-Oxley Act, so rapidly developed and enacted, has functioned as well as it has.”
H’mm. This earlier post notes Mr. Greenspan’s rather dubious views on criminalizing negligence of business executives. But if you want a detailed analysis of the error in Mr. Greenspan’s opinion on the Sarbox legislation, Professor Ribstein’s archive of Sarbox posts is an excellent resource.