A prelude to Washington
The collapse of WorldCom is likely to prompt new calls for Washington to act - quickly - support the strengthening of markets. Earlier this month, the Securities and Exchange Commission (SEC) proposed that the Presidents should be personally guarantee the accuracy, timeliness and equity of their diplomas. He asked a supervisory authority for campaigns audit.Good legislation governing the auditors, the Senate Banking Committee. For the moment there is no plan for the Senate, there is full before July 4th place - and the legislation has been stalled in the house - the collapse of WorldCom events could incite to act more quickly.
“This latest accounting scandal as the importance of Congress, to cooperate to create tough new laws to prevent future abuses and yet the confidence of investors in equity markets and corporate America,” said Billy Tauzin Czech (R) LA.
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