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Video archive of the US Congress

House Proceeding 12-10-09 on Dec 10th, 2009 :: 2:56:00 to 2:57:20
Total video length: 3 hours 30 minutes Stream Tools: Stream Overview | Edit Time

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John Sarbanes

2:55:56 to 2:56:18( Edit History Discussion )

John Sarbanes: yield one minute to the son of one of the original authors of the sarbanes-oxley bill. representative sarbanes. the chair: the gentleman from maryland is recognized for one minute. mr. sarbanes: i thank the strongly support the an jorsky-frank-sarbanes-cohen amendment to the bill.

John Sarbanes

2:56:00 to 2:57:20( Edit History Discussion )
Speech By: John Sarbanes

John Sarbanes

2:56:19 to 2:56:39( Edit History Discussion )

John Sarbanes: this would restore critical investor protections for those who invest in publicly traded companies. and what are those? number one, that the management establish internal controls with respect to the financial operations of the company and number two, that they get an outside audit to validate the soundness of those controls.

John Sarbanes

2:56:40 to 2:57:00( Edit History Discussion )

John Sarbanes: now those who oppose this say that the smaller publicly traded companies can't handle the burden of compliance. but the costs have come way down, particularly because the s.e.c. has been careful to work with these small companies to make sure that that burden is not too heavy. the fact of the matter is that if you're an investor it doesn't

John Sarbanes

2:57:01 to 2:57:20( Edit History Discussion )

John Sarbanes: ma investing in a smaller company or a larger company. what you want to know is that that company is not cooking the books. if we don't pass this amendment then almost half of the publicly traded companies in this country

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