Jeff Bingaman: “I think that is an admirable goal, one that the entire Senate needs to join. Unfortunately, the administration and the…”

“I think that is an admirable goal, one that the entire Senate needs to join. Unfortunately, the administration and the House and some colleagues in the Senate have not shown the kind of zeal for these necessary reforms that is going to be required. I certainly hope the delays and obstacles that have arisen so far do not prevent us from bringing meaningful legislation before the Senate. If you hoped that the Enron/Andersen scandal would provide an opportunity for just those sort of farsighted regulatory improvements, start worrying. There are signs that the Bush Administration, under pressure from the accounting lobby and business groups such as the U.S. Chamber of Commerce, is willing to support only mild changes in the current system. And there's a danger that Congress will acquiesce. The House of Representatives has already passed a very watered-down bill.”