Starr Mounts Sarbanes-Oxley (anti-fraud law ) Challenge

[brooklynite]

WASHINGTON - A constitutional challenge by conservatives to the law that reshaped corporate governance after a wave of business scandals likely will end up before the Supreme Court, attorney Kenneth Starr says.

The legal action that Starr is mounting against the Sarbanes-Oxley anti-fraud law is one of a trio of assaults targeting it, as small companies push for regulatory exemptions and some lawmakers prepare legislation to change it. With memories fading of the corporate fiascos of 2002 that began with Enron Corp.'s collapse, opponents of the law and its mandates on public companies and the accounting industry are banking on a changing political climate.

Starr, the former special prosecutor who led the Monica Lewinsky and Whitewater investigations of President Clinton, is one of the attorneys bringing the federal court case on behalf of a pro-business conservative group, the Free Enterprise Fund. They are challenging the board established by the 2002 law to oversee the accounting industry, arguing that it violates the Constitution's mandated separation of powers among the three branches of government.

http://news.yahoo.com/s/ap/20060428/ap_on_go_ot/sarbanes_oxley

[UrbScotty]

1. Couldn't stop a popular president...

...so now he's targeting a popular law.

[SharonAnn]

2. Of course. His supporters want to steal and go undetected.

What greed!

[lovuian]

4. Yep.......

:argh:

[ThomCat]

3. SOX is painful to implement

but it's necessary, damn it. It's about time corporations had to be accountable to more than just a token extent.

[aquart]

5. How dare they?

And hiring Starr? Why not hang out signs saying this is a criminal enterprise?

[lovuian]

6. Ken Star never won Whitewater...He couldn't prosecute a Blowjob

No Worries here... Now if Fitzgerald was on the case thats somethin!!!

[Julius Civitatus]

7. Typical. They want companies like Enron to get away with fraud

and the Sarbane-Oxley law now puts limits to their abuses.

Republicans are so freakin' predictable.

[Turbineguy]

8. Since the Supreme Court decision is

a foregone conclusion he'll have to really work at spending $150 million in taxpayer money on this bogus cause.