Resources for Sarbanes-Oxley (SOX)

French Reflex

online.wsj.com

Anytime a business scandal erupts, politicians can't help but stick their noses in it. Think Enron, WorldCom and its regulatory offspring, Sarbanes-Oxley. This temptation is double dosed for French mandarins predisposed by long tradition to meddle in private affairs.

In the wake of the €4.9 billion ($7.2 billion) loss allegedly rung up by rogue trader Jérôme Kerviel at Société Générale, official French reaction came pre-scripted. First an attack on capitalism, then a move from the very top to micromanage the troubled bank. Neither is welcome.

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