Comments on: NM should take lead on investment reform http://www.nmpolitics.net/index/2010/02/nm-should-take-lead-on-investment-reform/ Get the real story Wed, 08 Feb 2012 23:28:24 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: qofdisks http://www.nmpolitics.net/index/2010/02/nm-should-take-lead-on-investment-reform/comment-page-1/#comment-9961 qofdisks Thu, 04 Feb 2010 04:00:59 +0000 http://www.nmpolitics.net/index/?p=12486#comment-9961 I am especially concerned with the incompetence in our state fund officials. How can this be remedied? I say let's put some of our unemployed top NM mathematics graduates on the job. I am especially concerned with the incompetence in our state fund officials. How can this be remedied? I say let’s put some of our unemployed top NM mathematics graduates on the job.

]]> By: Dr. J http://www.nmpolitics.net/index/2010/02/nm-should-take-lead-on-investment-reform/comment-page-1/#comment-9956 Dr. J Wed, 03 Feb 2010 23:25:09 +0000 http://www.nmpolitics.net/index/?p=12486#comment-9956 I have to agree with Mr. Molitor, after several years of dealing with the problems of SarbOx personally, it is no model for anything. But, no one would disagree about the premise of the need to stop the corruption, cronyism, and insider dealings that exemplify the current investment situations in this state. But start from scratch and do it right, not some political, partisan compromise like SarbOx. I have to agree with Mr. Molitor, after several years of dealing with the problems of SarbOx personally, it is no model for anything. But, no one would disagree about the premise of the need to stop the corruption, cronyism, and insider dealings that exemplify the current investment situations in this state. But start from scratch and do it right, not some political, partisan compromise like SarbOx.

]]> By: Thomas Molitor http://www.nmpolitics.net/index/2010/02/nm-should-take-lead-on-investment-reform/comment-page-1/#comment-9953 Thomas Molitor Wed, 03 Feb 2010 20:53:28 +0000 http://www.nmpolitics.net/index/?p=12486#comment-9953 Tim, You say, "New Mexico must address the state investment funds' inherent structural flaws much like Congress did with Sarbanes-Oxley to prevent further deterioration of investor confidence." Firstly, what undermines investor confidence is corruption, like Bernie Madoff, or the last eight years of our Democratic governor. Secondly, Sarbanes-Oxley is a disaster. The more we look to the government to protect us from investment mistakes, the less competition there is for truly independent evaluations of investment risk. To prevent such heinous fraud from occurring in the future, New Mexicans need less regulation, more more. According to Capitalism Magazine's Alex Epstein, "Sarbanes-Oxley is a fundamentally corrupt law that must be repealed." Senator, I caution you not to wax wonderful about Sarbanes-Oxley. It's secondary negative consequences are too numerous to name here but I would be happy to forward you studies if you like. The damage inflicted on American businesses and capital markets by Sarbanes-Oxley has strengthened my conviction that this legislation should be repealed. I would hate to see New Mexico enact laws using Sarbanes-Oxley has its working model. Thomas Molitor Republican candidate for state House of Representatives, District 23 Tim,

You say, “New Mexico must address the state investment funds’ inherent structural flaws much like Congress did with Sarbanes-Oxley to prevent further deterioration of investor confidence.”

Firstly, what undermines investor confidence is corruption, like Bernie Madoff, or the last eight years of our Democratic governor.

Secondly, Sarbanes-Oxley is a disaster. The more we look to the government to protect us from investment mistakes, the less competition there is for truly independent evaluations of investment risk. To prevent such heinous fraud from occurring in the future, New Mexicans need less regulation, more more. According to Capitalism Magazine’s Alex Epstein, “Sarbanes-Oxley is a fundamentally corrupt law that must be repealed.”

Senator, I caution you not to wax wonderful about Sarbanes-Oxley. It’s secondary negative consequences are too numerous to name here but I would be happy to forward you studies if you like.

The damage inflicted on American businesses and capital markets by Sarbanes-Oxley has strengthened my conviction that this legislation should be repealed. I would hate to see New Mexico enact laws using Sarbanes-Oxley has its working model.

Thomas Molitor
Republican candidate for state House of Representatives, District 23

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