Blowing in the Wind
Published by claudia March 16th, 2007 in SEC, SOX, Section 404, Accounting rules Tags: congress, congressmen, sarbanes oxley, senate.Yesterday, Marie Leone’s blog took the U.S. Senate to task for walking out on their cafeteria bills, drawing a neat analogy to Bluto, John Belushi’s cafeteria-plundering character in Animal House. (A free CFO.com travel mug goes to the first poster who can tell us why else Marie’s analogy was so apt).
But Sarah Johnson’s story about The Sarbox Hot Potato today has Congress walking out on a bill — or, in this case, a law — in an entirely different sense. Faced with a powerful and well-organized backlash against Sarbanes-Oxley, congressmen are leaping onto the bandwagon to criticize their own law, while at the same time shunting most of the blame, not to mention the responsibility for the fix, onto the SEC.
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