Debating Keeping Businesses in the U.S. While Sweeping Up the Mess

We're guessing when you read the words "Sarbanes-Oxley" (unless your job is to care about it) means you skip to the next article. You shouldn't do that with this one. Even though Floyd Norris' terrific column today may be in the business section for people who already have a financial background, it is just as well written for those who don't. Forget about Sarbanes-Oxley for a moment, this article is important to you because it shows that regulation doesn't necessarily mean companies will flee the U.S.

Here's why you care: There's a big debate going on right now as to how much the U.S. government will regulate the banks and Wall Street. Yes, legislation already passed. But, passing legislation in the nation's capitol and implementing and enforcing it are two different matters. Some fear too much tightening will cause financial institutions to essentially hop the pond and increase their office space in London. Other's think if we don't enforce we'll send the market further down the drain. Both have good points. The report Mr. Norris highlights shows that just because you institute a regulatory measure doesn't mean everyone leaves. Think about that in the context of credit crisis and the mortgage mess.

Here's another reason why you care: The political conventions are around the corner. Why You Care bets that the mortgage mess and solutions to the economy will be a big part of it. You're going to hear lots of speeches about regulation - from all sides. This article will help you be smart when you hear Senators Obama and McCain. Too bad Mr. Norris was on the business page today and not the A Section.