Still, even when you concede that Sarbanes-Oxley performed a public service--by spurring companies to clean up their acts--the fact remains that the law has created inequities, especially for small companies. Even Oxley himself has begun backpedaling. In a recent speech in London, he recalled the hothouse atmosphere ... a bit more flexibility for small and medium-size companies.
I think the president will make the right decision, ... I don't think you should have any kind of a balancing act, or some kind of a litmus test. I think it should be purists who believe in judicial restraint, and who believe that writing the laws is the job of the legislative branch and not the judicial branch.
The legislation we crafted in conference goes a long way in solving the egregious problems that have arisen as a result of corporate misconduct and accounting scandals. It's not a total answer, but I think we made excellent progress, and the White House has informed me this morning that they support the conference agreement.