Wendy Sherman: “so much corporate malfeasance, so little time, so much to do. I join with the earlier speaker in saying that we should…”

“so much corporate malfeasance, so little time, so much to do. I join with the earlier speaker in saying that we should work together on a bipartisan basis, and indeed this House did pass a bill in April, but it passed a bill in which virtually every Democratic amendment was rejected out of hand, rejected on a partisan vote. So we do not have a bill that requires the SEC to actually read the financial statements of the largest companies and make sure that they are not misleading or obtuse. We do not have a requirement that audit firms have malpractice insurance or that they require their technical review partners to sign off on their audits. What we have is a bill that is bipartisan in form only. Working together is not just working with the other body. It is working with both sides of the aisle. Let me also take this opportunity to commend the Financial Accounting Standards Board whose slow and ineffectual action makes the House and the Senate look effective by comparison.”