Responding to the failures of Enron and Worldcom within six months of each other, failures that didn’t spook the markets much at all, President George W. Bush zestily signed into law Sarbanes-Oxley (legislation that most certainly did spook the markets), thus criminalizing failure in an economy that had long derived its dynamism from – you guessed it – a lack of barriers to the decline of corporations no longer meeting or leading the needs of customers.
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