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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (53635)	2/12/2006 10:13:44 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

On Saturdays, when I cut the grass for 2 hours, I don't add $40/week to my salary. I don't add chauffer's pay to my salary because I drive myself to work either. And so on. Chris You cut your own grass? So do I. Isn't there an imputed value to that? If we can pay ourselves rent for living in our own homes, why shouldn't we pay ourselves salary for cutting our own grass? Obviously the GDP is understated by people like us that cut our own grass. Mish

To: ChrisJP who wrote (53635)	2/13/2006 3:41:26 AM
From: shades	Respond to of 110194

DJ US Chamber: Excess Regulation A Drag On Capital Mkts By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The U.S. Chamber of Commerce is warning anew about potential damage to the U.S. capital markets from excessive regulation, according to a report that calls for limits on the regulation of public companies and markets. The report builds on themes developed by the group over the past year, with the U.S. Chamber suggesting that the competitiveness of U.S. business is at risk from unfair Securities and Exchange Commission enforcement policies, conflicts of interest among unions, trial lawyers, and shareholder activists, and rules imposed by the 2002 Sarbanes-Oxley law. "Unfortunately, we are on the verge of destroying the system that feeds our businesses and creates our wealth, wrote Tom Donohue, president of the group, in a report to be released on Monday. "This report provides clear and complete information about serious risks to our capital markets system - and what we intend to do about it." "We have been attacking those one at a time," said David Chavern, a vice president at the influential business group who put together the report. "What we wanted to do was lay out a whole range of issues and concerns and show how they're related." The U.S. Chamber of Commerce has already set up a blue-ribbon commission to recommend ways to overhaul and update regulation of U.S. companies and markets. That panel, led by Goldman Sachs Group Inc. adviser Robert Steel and J.P. Morgan Chase & Co. executive William Daley, is conducting private meetings and plans to release recommendations in early 2007. The business group now plans to launch a campaign it says is designed to educate the public about the importance of the capital markets, in an effort to show that "having poorly managed markets will cause us to lose future opportunities for innovation, growth, and development," the report said. The U.S. Chamber of Commerce also says it plans to "reveal" the conflicts of interest among unions, trial lawyers and shareholder activists. It also is calling for changes to a part of the 2002 Sarbanes-Oxley law that requires public companies to hire outside auditors to assess internal controls over financial reporting. A study of the SEC's enforcement program, commissioned by the group, is to be released in early March. The study focuses in part on attorney-client privilege, which defendants in SEC cases cite in an effort to keep documents out of the hands of regulators. The SEC "needs to step back in certain of its policies and programs and take a second look at whether some of the things they've been asking for, like waivers of attorney client privilege, not only are bad from a due process perspective, but aren't really helping them from the enforcement side," Chavern said. An SEC spokesman declined to comment. -By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; Siobhan.Hughes@dowjones.com (END) Dow Jones Newswires February 13, 2006 00:01 ET (05:01 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 12 01 AM EST 02-13-