How does the Sarbanes-Oxley Act impact American business?
The new law seeks to require greater accountability by management and boards in the reporting of financial data. Will it be enough?
The Sarbanes-Oxley Act, Congress' effort last July to respond to corporate scandals and to restore confidence in the stock markets, is off to such a rocky start that one is tempted to ask whether Congress will have to try again to accomplish significant reform.
A study of congressional response to an even worse period of market turmoil, the Crash of 1929 and the subsequent Great Depression, provides some interesting parallels that suggest the job may not yet be complete.
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