Tuesday, November 15, 2005
So Much for Self-Regulation
Making a brief side-trip from detailing the Bush Admininistation's moral and ethical degeneracy, here's proof that another of their treasured ideological postulates is flat out wrong. So-called self-regulation, the theory under which corprations can be trusted to "do the right thing" because of market pressures, is simply not true:
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WASHINGTON--Regulations like Sarbanes Oxley have morphed ROI from "return on investment" to "risk of incarceration" for senior executives, according to a panel of security executives speaking at a conference here.Odd, and having the foxes in charge of designing chicken house perimeter defenses seemed like such a good idea. After all, the foxes SAID the defenses were "world class" and that they'd tell us if anyone breached the chicken house's security.
Proving monetary return for security spending is a challenge. However, when senior executives know they risk liability if they don't comply with regulations, they will be quicker to approve spending, said the panelists addressing the Computer Security Institute's annual conference on Monday.
(Source: ZDNet ROI: Risk of incarceration?, Nov. 14, 2005 [emphasis added.])
