Barney Frank: “I did not think that the Sarbanes-Oxley corporate accountability bill came as entirely a shock to Members on the other…”

“I did not think that the Sarbanes-Oxley corporate accountability bill came as entirely a shock to Members on the other side of the aisle. All we are asking for and all I mentioned was let us fund the Securities and Exchange Commission at the level this House and the rest of the government said was appropriate last August. It is not a complicated matter. I am not trying to raise new obstacles. The gentleman said this is just an ordinary bill. I thought there was a decision by the Congress and the President last summer that ordinary was not good enough for the Securities and Exchange Commission, that we had to do some extraordinary things to combat abuses in the securities industry. So when I say that we should fund the level that we said we would fund, apparently for the gentleman from Oklahoma (Mr. Istook) that is too complicated.”