According to political scientist Alan Lichtman, one factor favoring President Obama's re-election is the absence of scandal in his administration. Lichtman may have spoken too soon. The reason can be capsulized in a single word: Solyndra.

Statement to the U.S. Securities and Exchange Commission on addressing the problems of Sarbanes-Oxley Section 404 that cause excessive and wasteful expense, bureaucracy and paperwork.

The Shadow Financial Regulatory Committee urges the Congress to adopt legislation that would limit audit firms" legal liability for damages (direct and punitive).

Perhaps reform of the excessive cost and bureaucracy created by the Sarbanes-Oxley Act will be a bipartisan effort, just as the original act was a bipartisan overreaction to the scandals of its day.

Now that Bill Donaldson will be replaced by Rep. Chris Cox, we can hope for something more substantial.

Debates about the Sarbanes-Oxley Act continue, but one thing is clear: its implementation has created unintended consequences.

Has the Sarbanes-Oxley Act increased corporate costs without strengthening corporate governance?

Proposed rule for Management"s Report on Internal Control over FinancialReporting (File No. S7-24-06).