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I'm sure it went something like this: 1)Give the number from this economically disastrous year, 2)find the other years with the highest number of IPO's and list them. 3)Use this ridiculously skewed comparison to prove your point



2008 wasn't economically "disastrous" until the very end. Up until October, it wasn't too dissimilar from 2007.

http://lawprofessors.typepad.com/securities/2008/02/januarys... : "January [2008] was a slow month for IPOs, with only five that raised a total of $892 million. This compares with ten in January 2007 that raised a total of $2.25 billion." I quickly googled, and there's probably more to look at here, since either 5 of the 6 IPOs did it in January, or there's different counting methodology in action here. Still, it's down even in months that weren't bad. It's not just statistical gaming, even if that's in play. Asking what changed is still fair.

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Take a look at the years since SOX was passed. IPOs have plummeted.

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I would love to, if WSJ provided the aforementioned graph.

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Not a graph, but here's a table of IPO data:

http://bear.cba.ufl.edu/ritter/IPOs2008VC.pdf

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correlation != causation.

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