Doing research for tomorrow’s column, I ran across a chapter most Ron Paul supporters probably don’t know about.
The quiet campaign against provisions of the Sarbanes-Oxley Act may have had something to do with the proposal by Representative Ron Paul, a Republican from Texas, on Thursday to eliminate Section 404 entirely. In a statement, the congressman said the provision “has raised the costs of doing business, thus causing foreign companies to withdraw from American markets and retarding economic growth.”
What’s that about?
Section 404 requires companies and their auditors to assess the companies’ internal controls, which are the practices or systems for keeping records and preventing abuse or fraud.
Ron Paul, enemy of the Iraq war — and friend of corporate fraud?
Friday, November 23, 2007
from The unknown Ron Paul by Paul Krugman | New York Times Blog