Submitted by Samuel Smith, Nov 17, 2006 14:24

I wonder if Mr. Michael Bloomberg is really concern with keeping New York City in a competitive business environment, or is he more concern with the multitude of none compliance issues with his own company Bloomberg LP and all of his subsidiaries are facing at this very moment.

Lets take a look for example the cost associate with maintaining all of his companies in compliance do to the fact that the very nature of his company business requires that they maintain full compliance with Sarbanes & Oxley.

Many legal battles will be fought and before the day is over, there is at least one legal case if not more pending against Bloomberg LP for none compliance with regulatory requirements with Sarbanes & Oxley in the middle of it all, according to court public records there is case against Bloomberg LP in Florida State Court for absolute negligence among many other charges, the case seems to indicate that the Bloomberg Data System is suffering with severe issues of data security and production of fraudulent Bloomberg data screens, the very same issues and reasons for the existence for the bill past and made part of Sarbanes & Oxley act of 2002

Let's not forget the past, for those of us who have lost our entire nest egg to Enron's financial debacle, let's ask Mr. Bloomberg what he is doing to clean up his own back yard. Before he tries to clean up New York City, or should I say is there a silver lining by reducing regulatory compliance for others so you don't have to comply?

Samuel Smith

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