White House Quietly Working To Weaken Investor Protection Read more at: http://www.huffingtonpost.

[still_one]

The White House is quietly working to undercut a key post-Enron reform, significantly weakening protection for everyday investors and threatening the administration's image as a champion for financial regulatory reform.


Read more at: http://www.huffingtonpost.com/2009/11/02/white-house-quietly-worki_n_340791.html

Let me hear what kind of excuse we give Obama for this, and blaming it on Emanuel doesn't cut it, since Obama is the President

[Arkana]

1. SOX is annoying, inefficient, and is badly executed in about 90% of the companies

that move to comply with it.

Take it from me--I was the data gatherer for one such company.

I don't think we should take megacorporations off of it, but I don't see why small, public-owned companies should have to rigidly follow SOD regulations and test hundreds of redundant, badly-written controls year after year.

[still_one]

3. The problem is that something had to be done with the accounting rules. Maybe SOX

isn't the answer, but obviously accounting agencies themselves could not be trusted without oversight

[Arkana]

12. No, and that's why we have third party auditors. Ours

were KPMG and Price Waterhouse Coopers.

[inna]

6. what's SOX?

[berni_mccoy]

8. Sarbanes/Oxley

[Common Sense Party]

2. I used to have some respect for Arthur Leavitt. But for him to call SOX

"the best piece of legislation of the past 20 years" tells me he is delusional, at best.

[still_one]

4. I believe it was Arthur Leavitt who also saw no need to get rid of naked short selling

that was what caused me to rethink about who he truly wanted to protect, and it wasn't the individual investor

[Common Sense Party]

5. Is that right? Damn, that one should be obvious to everyone.

[still_one]

11. Please don't quote me on that, I may be wrong, but I thought I remember him talking about it

on Bloomberg.

[Common Sense Party]

13. OK. I would find that surprising from Leavitt, but you never know these days.

[still_one]

14. Thanks. I should have made sure before I made that comment /nt

[flyarm]

7. wow ,now tickle me silly, I am soooo surprised...NOT..eom

[Nikki Stone1]

9. Remember this when any president tries to put Social Security into the market

.....

[optimator]

10. highly disturbing

Rahm's argument is that publicly traded "small" companies should be allowed to be fraudulent and corrupt with no regulations , no oversight.
Sounds exxaclty like republican ideology.