with sarbanes-oxley. it's clear that sarbanes-oxley did have benefits for investors and for public companies. but the cost side was a lot more than anybody anticipated. the costs have are very high fixed costs. there's a lot of things they all have to do. those costs fall disproportionately on the smaller companies. i think it would behoove us to find out where that cost-benefit ratio is right. for large company, the benefits outweigh the costs in terms of complying so it's ok for them. my preference would be if we had private ordering and let companies sort of figure that out. but sarbanes-oxley's been the law of the land for a long time now. if we can at least exempt smaller companies up to a certain threshold, and not prohibit them from complying, if there's certain companies that say, we're willing to incur those costs because we think the benefits in terms of the information that's out there or in terms of investors are more comfortable and it lowers the cost of capital, fine, let them do that. i thi

now oxley is concerned about safety while driving in rural areas.

but sarbanes oxley has been the law of the land for a long time now. so if we can at least exempt, you know, smaller companies up to a certain threshold, and not prohibit them from actually -- if there are certain companies that say, hey, we're willing to incur the costs because we think the benefits in terms of the information that is out there or in terms of investors are more comfortable and lowers the cost of capital, fine, let them do that. it would behoove us to see that threshold where we could see where companies find it -- the benefits to justify the costs. >> former commissioner troy parides wrote an article called blinded by the light. premise of the article being that disclosure documents have become so massive that the relevant information is getting lost in hundreds of pages of dense legalese. or worded differently that disclosure documents now obfuscate rather than inform. >> right. >> the length of 10ks is dramatically increased. i've seen some estimates that say that, you know, by a factor of two. so do you think it is a fair criticism

counting it's blessings after somebody took a shot at their minivan on thursday. 7 year old grace oxley was grazed just behind her ear by what the sheriff's office says is the slug from a pellet gun. fired from somewhere just north of the intersection of santa teresa boulevard and fitzgerald avenue, the slug shattered the rear window. a second vehicle was also hit. grace's mother julie is outraged and worries someone is going to be badly hurt unless the culprit is caught. the sheriff's department is stepping up patrols in the area in gilroy rob fladeboe kron 4 news ((pam))the weekend is here... and much of the bay area is under a heat advisory.((steve)) meteorologist brittney shipp is back to tell us just how hot its going to get. a warming trend is expected to begin today as high pressure builds into california from the desert southwest. very warm to hot conditions are expected to return to inland areas over the weekend. some cooling then appears in store for the first part of next week. ♪ ♪ award winning interface. award winning design. award winning engine. the volvo xc90. the most a

>> or even revisiting the threshold for which they have to apply with sarbanes-oxley. >> it is clear that sarbanes-oxley did have benefits for investors and public companies, but the cost was a lot more than anybody anticipated and the costs are high costs no matter what size the company is there's a lot of things they all have to do so those costs are disproportionately on the smaller companies and so i think that it would behoove us to find out where that sort of cost benefit ratio is. for some companies they outweigh the cost and it's okay for them. my preference would be if the private ordering and with the company's sort of figure that out, that sarbanes-oxley has been the law of the land for a long time now. if we can at least exempt smaller companies up to a certain threshold and not prohibit them. if there are certain companies that say we are willing to incur the cost because we think the benefits in terms of the information is out there or in terms of investors being more comfortable on the capital, find and let them do that but i would behoove us to actually increase the t

. >> quickly, before we go, you were there during sarbanes oxley.you think that now entire legislation needs to be re-examined. we hear time and again they're trying to make it easier for companies to go public look, michael dell was crowing with how much he is enjoying being a private company. sarbanes oxley contributing to this whole idea that public markets aren't worth the trouble. >> well, i think the new chairman of sec jay clayton did his made envoyage speech last week and he did i think a very good job in laying down a number of markers and focusing on this issue and the cost that it entails to become a public company. and so like michael del said, there are a lot of companies like uber, for example, despite all their recent troubles, i mean, they have not had to tap the public markets we used to have a very vibrant market for ipos and those things 20 years ago was the high water mark with 700 some back in 1996. last year was 100 some all of this stuff comes together i think it's great for the sec to look at, you know, the real costs versus

the back window of julie oxley's mini van was shattered on santa teresa boulevard in gilroy and morganill today. her seven year old daughter grace was hit in the here. >> glass just popped and got me in the ear. >> she's bleeding and i just -- it was just really frustrating to, like, not know what to do and to feel so, like, confused and overwhelmed by what is going on. >> scary. another driver who stopped to help the family says his car was also hit with a bb pellet. sheriff's deputies took the pellet that got lodged in grace's hair for evidence. >>> "abc 7 news" was in monterro as divers recovered a wheel believed to be from a missing man's car. they also found a fuel tank lodge willed in the rocks. they'll return at low tooiide trying to look for the car. richard moss disappear on his way to work more than a month ago. new tonight, we're hearing from the editor of a skateboarding magazine who needed staples in his head after a street race near delores park. >> i was flying down the side and hit a reflector. >> we came up with jake selps. as you can see he is recovering in the hospit

the back window of julie oxley's mini van was shattered on santa teresa boulevard in gilroy and morganill today. her seven year old daughter grace was hit in the here. >> glass just popped and got me in the ear. >> she's bleeding and i just -- it was just really frustrating to, like, not know what to do and to feel so, like, confused and overwhelmed by what is going on. >> scary. another driver who stopped to help the family says his car was also hit with a bb pellet. sheriff's deputies took the pellet that got lodged in grace's hair for evidence. >>> "abc 7 news" was in monterro as divers recovered a wheel believed to be from a missing man's car. they also found a fuel tank lodge willed in the rocks. they'll return at low trying to look for the car. richard moss disappear on his way to work more than a month ago. new tonight, we're hearing from the editor of a skateboarding magazine who needed staples in his head after a street race near delores park. >> i was flying down the side and hit a reflector. >> we came up with jake selps. as you can see he is recovering in the hospital after

lives and i don't i just don't think it certainly won't wash with my constituents a person i came said oxley sorry i didn't vote for at this actually it be a reality but now i actually do believe that war did speak louder than words always dog that it was a very cool room was elected leader of the labor party i mean he lost his leadership can't bayless should say with his first interviews on this show he's appointed what could one could consider blairites. when you think of the new you know you would in the first few days when some of these people are on the record voting on war after war in libya against in the best occasions into the iraq war. what do you think about these choices or does corbett have no choice and has to work with that side of the board i think that jeremy corbyn is different or that he can't provide a political party that is one that is going to be really powerful force against a conservative and the government and you know we can look at the people and say the most bone and you know i'm sure many would and i'm sure the be judged on the. that appointments are important b

nearly a year ago, steve latourette from northeastern ohio, earlier this year mike oxley, and now ralph regula. ralph regula's -- ralph regula was the dean of the delegation even before i got here and he was the dean of the delegation when i came here in 2001. one of the great things that ralph regula did on our side of the aisle, when we were in the minority and then when we were in the majority, is he strategically placed members of our team from ohio throughout all the committees. so u had people on the propriatis commtee, you had people on the ways and means committee, on the energy and commerce committee, on the armed services committee. ralph was so thoughtful that way, trying to make sure that we represented our state in all sorts of ways. and i got to know ralph mostly tting in that corner with dave hobson. ralph regula, steve latourette. and the dean of the delegatio didn't speak loudly. often spoke softly. but his words were meaningful. and usually right. he was a thoughtful guy who cared about our state, who cared about our country, and taught so many of us how to legislate.

. >> before i got congress, the congressional response to scandals was sarbanes-oxley and that was to make sure the thing did get to the ceo desk. the ceo had to sign on -- with criminal penalties, if signed it incorrectly, or without -- not in good faith or without a good-faith question into the truthfulness. certain representations -- when jamie diamond, crowe of jpmorgan-chase, testified before the house financial services committee, on the london what's debackle, he really laid into their risk controls. they just did not have good risk controls in place, and they were going to fix that. and i said -- i asked, just a month before this, you signed a quarterly certification required by law with criminal penalties that you had adequate risk controls in place. i don't remember doing that. i don't remember that discussion. well, tell me what you do generally. tell me what you practice us? what do you do every quart enwhen it's time to seem that? do you call on your staff? and behind them, all the rows of lawyers, jpmorgan-chase lawyers, were having -- at the very least facial ticks beca

sarbanes-oxley for a long time now. if we can at least exempt smaller companies up to a certain threshold and not prohibit them, if certain say we are willing to incur the cost because we take benefit in terms of the information out there for terms of investors are so comfortable and let them do that. i think it would behoove us to actually increase the threshold to the point that we conservatives see where companies benefits justify the cost. >> former economic commissioner once read an article called blinded by the light. the premise of the article being the disclosure documents have become so massive that the relevant information is getting lost in hundreds of pages of dense legalese. or disclosure documents to obfuscate rather than inform. the link of the case is dramatically increased. i've seen some estimates that say that by a factor of two. so, do you think it is a fair criticism of reforming regulation s. k. is going to hurt investors or do you think it can both simultaneously reduce the burden and improve the

and if you go back to sarbanes-oxley which the democrats supported essentially destroyed many small businesseszabeth warren represents not so obvious establishment. this recurrent in history where you have the establishment, which wants to keep things the way they are. people like donald trump who are change agents, then you have insidious element people like elizabeth warren, speak a good game and essentially confuse the masses to essentially funnel them back to the policies of the establishment, big business and destroy the small guy while they represent great pr. is so they are -- stuart: you will go through the primary process. you're not the republican candidate yet at this point. you have to go you there primaries. are you self-financed? i'm sure you're wealthy guy? >> here is interesting thing. when i looked at numbers, i don't understand where a lot of this money goes. from an entrepreneurial level. so we are running our campaign as though it is an entrepreneurial business. the key is, the product is, the authenticity of the message, what we stand for. you do marketing and selling. i s