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Friday, March 24, 2006

Sarbanes Counters Critics of 2002 Law

Sen. Paul Sarbanes, D-Md., offered his most sweeping defense of a law he co-authored following the collapse of Enron Corp. and suggested that current efforts to roll back the law are on shaky legal footing.

"We need to remind those who complain that Congress overreacted or overreached in passing Sarbanes-Oxley of several crucial points," he said Thursday in remarks to the Consumer Federation of America.

"It's asserted by some that the law was enacted in haste," Sarbanes said. "I think this is an affront to the hard work and the common sense of the members of Congress who shaped the legislation, moved it through their respective houses, and voted for it. We had an extremely thorough, careful set of hearings."

posted by Brian Moran @ 9:27 AM   0 comments

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