Newt Gingrich calls for end to Sarbanes-Oxley

In an interesting post on TechCrunch this week, Michael Arrington writes that none other than Newt Gingrich, former speaker of the house, has called for end to Sarbanes-Oxley, calling it a failed piece of legislation. Before you react, also keep in mind that Gingrich publicly stated last week that it was time for our society to end adolescence [1] too, calling it a failed social experiment.

As the father of two teens, I'm tempted to agree with the latter, but I don't. And neither do I agree that it's time to kills Sarbanes-Oxley. If anything, it's time to revisit it, tweak it and make it better--especially in light of the monstrous failures we have seen over the last two months on Wall Street.

While the American people are bailing out big banks and insurance companies, the last thing we are likely to see is the dismantling of key pieces of our regulatory infrastructure. Gingrich may be good for a laugh, but I don't see this happening. If anything, in exchange for the $700 billion check, the tax payers just wrote, they are going to demand more strict regulation than ever, but nice try, Newt.

For more info:
- see the original TechCrunch post [2]

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