SARBOX Leadership Is Up for Grabs

Bob Pozen takes to the op-ed pages of the WSJ to denounce, in his understated way, Sarbanes-Oxley and propose a sensible solution, much the same way he did with social security reform. However, unlike social security reform, there is a good chance that Democrats in the Great Sausage Factory will listen to him this time. As I have noted previously, SARBOX reform is politically costless and would attract strong support from business interests. It's a great issue for which leadership is up for grabs. At this point, the Democrats seem to be out in front, not because they are running particularly well, but rather because the Repubicans seem to be standing still at the starting gate.

UPDATE: I can't find the link but Bloomberg has a TOP function story about how SARBOX critics in the Great Sausage Factory have started conducting hearings to address the horrendous compliance burden imposed by the law. It seems Candice Miller (R-MI), chairwoman of the House Government Reform subcommittee, is leading the charge. The article mentions Republicans Tom Feeney (FL) and Mark Kirk (IL) and Democrat Gregory Meeks (NY). That would seem to make my earlier assessment a bit off the mark. Count me as agnostic over which party take the lead though, good policy is good policy, so this is encouraging.