January 31, 2006
The afforementioned proposal would offer pubically traded small businesses which are unfortunatelly finding themselves under increasingly expensive and oppressive regulatory costs an opportunity to satisfy their regulatory requirements in a cost-effective manner. As Alexander Hamilton, the first Secretary of the Treasury stated: Constitutions should consist only of general provisions the reason is that they must necessarily be permanent, and that they cannot calculate for the possible change of things. Mr. Hamilton also proposed that the United States must sponser and subscribe to industry and sponser business. We must at this time in our history resolve to subscribe and sponser the very backbone of our economy, small business, and make available the advantage of markets without the restraint of oppressive government regulations and unreasonable costs. The strength of America has rested upon our small businesses and the culmination of increasing government regulations through Sarbanes-Oxley and other requirements, while well-intended, has impsed an indirect tax on our small firms and will in effect discouraged them from seeking public capital. The possible continuation of burdonsom and expensive paper financial reporting will discourage prosperous and viable companies from seeking the most solid financing available, the public equity markets.