Bush on Sarbanes-Oxley

Monday, October 30, 2006
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I have no idea why this most unimportant blurb made it into the news, but……

Asked if the Sarbanes-Oxley rules on corporate executive responsibilities enacted in the aftermath of the Enron scandal need to be “rolled back,” Bush said that more modest modifications could be in the cards.

“I think rolled back is the wrong way to look at (Sarbanes-Oxley). I think fine-tuned in a way that achieves both objectives. One objective is good corporate governance, so that people have faith in the balance sheets they read.”

People read balance sheets? Ummm, no. They throw darts at a dartboard. They do not understand how to interpret a balance sheet, and they surely do not “read” them.

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