Sen. Paul Sarbanes on Thursday defended the benefits of his eponymous corporate reform law against critics who are trying to roll back some of the regulations they say were hurried overreactions to corporate scandals.
"I think the law is working as intended," the Maryland Democrat said at a consumer group meeting. "That legislation came in direct response to a crisis whose dimensions in retrospect are all too easy to play down."
The Sarbanes-Oxley law was passed by Congress amid accounting schemes that resulted in the collapse of energy trader Enron and telecommunications giant WorldCom.
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