Hank Paulson, the new US treasury secretary, dropped a clear hint on Tuesday that he was ready to support reform of the controversial Sarbanes-Oxley corporate governance rules, which he warned were threatening American competitiveness.
The former chief executive of Goldman Sachs indicated in his first speech since taking office that he felt the regulatory "pendulum" had swung too far in response to the Enron and WorldCom corporate scandals and that "we need to go through a period of readjustment".
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