Bending the Third Rail
Because We Should, We Can, We Do
Sunday, October 29, 2006
Is It Safe Yet?
Ken Lay ... dead. Check

Jeff Skilling ... sentenced. Check

H.P. Boardroom story off the front pages ... Check.

Exxon profits and oil prices down ... Check

It's time!
The New York Times leads with corporations and Bush administration officials lining up for an easing of some business regulations put in place post-Enron.

...

Certain details of the NYT's lead have been previously reported, but the story illustrates just how much steam efforts to lighten corporations' regulatory burdens have gained. Industry groups with close ties to the Bush administration have been working on proposals that would be put forward soon after the November elections. Why so soon after the new Congress takes office? Because, the Times says, it's "as far away as possible from the 2008 elections." The proposals may also, where possible, come in the form of rule changes instead of legislation to avoid that messy lawmaking process that has served our country so poorly.

The Sarbanes-Oxley law put in place after Enron's collapse is among the targets. Corporate-types have long argued that some of the requirements are too burdensome and costly. Treasury Secretary (and former Goldman Sachs chairman) Henry Paulson recently criticized aspects of Sarbanes-Oxley as well, saying they're too restrictive.
Talk about measuring the drapes for their offices.

Right after the election there will inevitably be "election fatigue" with voters wanting it all to just go away. If Dems get a House in Congress, there's a chance to stop this. But we're going to all have to keep our eye on the prize.
Written at 8:14 AM by Greyhair.
0 comments