Okay, this is not a good thing

by Prometheus 6
November 20, 2004 - 12:35pm.
on Economics
Germans Weigh Taking Stocks Off Wall Street By MARK LANDLER FRANKFURT, Nov. 19 - Add another entry to the list of how Americans and Europeans are parting ways. Several German companies, which rushed to have their shares traded on exchanges in the United States during the bull market of the late 1990's, are now seriously thinking about abandoning the market. The Germans are disenchanted by the United States as a source of capital, and offended by what they view as oppressive new regulations adopted in the aftermath of Enron and other corporate scandals. With trading volumes in New York that are, in most cases, a small fraction of their turnover in Europe, the companies are less willing to bear the legal costs, liability and the bureaucracy of complying with the rules. "They feel they can raise money just as cheaply outside the U.S.," said Alastair Ross Goobey, the chairman of the International Corporate Governance Network. "Why would you expose yourself to much greater regulation, and much more personal risk when you don't have to?"

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