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My Daily Fatwa: Bloomberg says Paulson in drive to reform U.S. financial Regulations

My Daily Fatwa: Bloomberg says Paulson in drive to reform U.S. financial Regulations

by Rick Turoczy on October 9, 2006

Robert Schmidt of Bloomberg is reporting that Treasury Secretary Hank Paulson is leading a drive pushed by the business community to roll back the Sarbanes-Oxley Act (“Paulson Leads Drive to Ease Regulations of Sarbanes-Oxley Law”).

Schmidt’s article does a good job explaining Paulson’s views and the pressure the Treasury Secretary would like to mount in a campaign to repeal Sarbanes-Oxley, but only touches on how limited Paulson’s ability to maneuver is in this area. It also fails to mention that Paulson’s objectives do not seem to be limited to just SOX but all U.S. financial regulation. This has several important implications.

My Daily Fatwa: Bloomberg says Paulson in drive to reform U.S. financial Regulations

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