Tuesday, September 26, 2006

Greenspan on Sarbox

From here :
You do not get a bill altered when the two names [Sarbanes and Oxley] are in the process of retiring. People are waiting until they are gone. Then, hopefully, changes will be made. Any bill that passes both houses almost unanimously, cannot be a good piece of legislation.
I'm hard pressed to come up with a counter example that proved him wrong. Unanimously approved legislation is typically well meaning and wrong headed ('civil rights', 'for the children', 'victims relief', etc.). Maybe an amendment is needed to require at least a 5%-10% vote failure for any given piece of legislation? That would certainly make for some interesting dynamics.

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