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Don't Raise Capital in America

May 26, 2006

Tags Global EconomyProduction Theory

Because I think they're only accessible to people with paid subscriptions, I rarely blog items from the Wall Street Journal. But this one from the Opinion page of today (Friday, May 26) is worth a click just to see if you get lucky. Or grab the PAPER while it's still in the office/house.

The article explains the proposed merger between the New York Stock Exchange and EuroNext as NYSE's last gasp at survival in global capital markets after the US capital market has sustained the ravages of Oxley-Sarbanes, the criminalization of management and stock promotion, and rampant class-action suits triggered by any and every downtick.

Guess what? Companies don't want to raise capital in America anymore. Now, it's Europe — EUROPE! — that's friendlier by far to business and capital. Things are upside-down, now, and this American is mortified to be on the bottom. Growing poorer, too.

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