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Mythical Pendulum Isn't Swinging Back The Other Way

Harvey L. Pitt | November 23, 2004

I’m frequently asked when the proverbial pendulum will swing back and business-bashing will cease. My unpopular response is: What we’re seeing is real and isn’t going away. A lot of credibility the business community once had has been squandered and eroded. It’s going to take a lot of time and effort to rebuild that credibility.

Don’t make the mistake of thinking that Election Day’s results will lead to the repeal or modification of the regulatory requirements enacted to date, or a slow-down in the promulgation of new regulations. Too much damage has been done by the progression of scandals and transgressions that we’ve all witnessed—and unfortunately continue to witness—and restoration of the public’s confidence will continue to be used to justify the adoption of more and more regulations.

Worse, focusing on a mythical pendulum loses sight of what’s really important. Many companies and their advisors assume the reason they need to...

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