[Congressional Record (Bound Edition), Volume 148 (2002), Part 11]
[House]
[Page 14486]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  CONFERENCE REPORT ON SARBANES-OXLEY

  (Mrs. MALONEY of New York asked and was given permission to address 
the House for 1 minute and to revise and extend her remarks.)
  Mrs. MALONEY of New York. Mr. Speaker, today we will be enacting the 
Sarbanes-Oxley Act, a historic overhaul of financial services 
oversight. But I am saddened by the crisis that brought us here. Today 
my heart goes out to all the innocent workers who have lost their jobs 
and the investors whose pensions have been pillaged.
  Out of this calamity we have produced the strongest legislative 
reaction to a business scandal since Franklin Roosevelt was President. 
It is a triumph over incredibly powerful special interest lobbying and 
includes world-changing reforms for U.S. companies. I have high 
confidence in our free market system. We have been through other market 
declines, insider trading scandals in the eighties, and the S&L crisis. 
Our system is the best at generating economic growth, jobs, and rewards 
initiative and innovation.
  The Sarbanes-Oxley bill is an important step toward restoring 
investor confidence and transparency in our system.

                          ____________________