the sarbanes oxley act is an example. the consensus is the sweeping reform has been successful in curbing accounting fraud, making financial statements more transparent and holding corporate executives and directors accountable. despite the demands of the job might found time to have fun. he was the manager of the republican congressional baseball team for eight years and posted a winning record of seven -- of 7-1. [applause] the annual competition was held last week. i won't mention the score but the republicans need you. congressman michael oxley. [applause] >> thank you very much. welcome to all of you. wonderful to be here, to see so many friends. it is like a high school or college reunion without having to look at pictures in the old year book. particularly to thank spencer and barney and paul sarbanes. it is tough to follow particularly spencer and barney because there two of the funniest guys in the house. they are well known. to follow them is quite a burden. before i forget, i do this sometimes. even though i am

amount of respect for senator sarbanes. one thing that i did say during sarbanes-oxley, is i saw two people reach across the aisle in the house and the senate, and two gentlemen really worked together to put a bill together that mike reminded us today has made us a better country. but senator sarbanes, it means a lot to us on the side of the aisle for you to be here today. [applause] >> i just want to say that sometimes people, mike oxley mentioned the title of the subcommittee he chaired when he was energy and commerce. do you think they knew at that time that financial services would turn out to be hazardous materials? [laughter] [applause] >> on behalf of u.s. capitol historical society, i want to thank you all for coming. and for each of you this evening, there is a gift. on your way out, please pick up the copy of the latest, the 16th addition of we the people, which is our capitol guidebook, and the 2012 calendar, our annual calendar which has a factoid from every day of the year, 150 years ago during the civil war. s

move to repeal sarbanes-oxley on day two.ny federal regulation as they can to repeal them to let businesses focus on doing their jobs. this economy is crumbling under a bureaucratic socialism in which washington dictates every aspect of life. the result is, people aren't hiring. folks are running out of money. i think we are going to see the economy stay in deep trouble unless there's a profound change in direction. >> greta: you say congress should come back in. are you suggesting they come back right now or wait until the end of the recess? the president is about to go on a nine-day vacation to martha's vineyard. washington is a ghost town. >> i just think when you have 14 million americans out of work and another 10 million either under employed or have given up looking. and you see the disaster, 2,000 point drop in the last 14 days of trading on the dow jones average for example. you have to ask yourself, shouldn't the political leadership of the country do something? i'm respectful of the fact that august vacations are s

businesses to improve their cybersecurity and thus remove some of the burden that they face under sarbanes-oxley and some of the other current regulations and laws. >> host: uh-huh. and also as part of the task force, basically, you're reporting back to your key leadership in october. have they asked you to look into any particular areas of cybersecurity, and when you report back to them this fall, what are they going to be doing with the feedback you'll be giving them? >> guest: they did give us four specific areas they wanted us to consider. one is critical infrastructure, one is information sharing, another is laws that need to be updated, and the fourth one is authorities issues. and there we're talking about a fair number of national security-related type authorities. so those are four areas that they've laid out. there may be others. it wasn't exclusive. and really it's going to be up to them on what they do with the recommendations. but the hope is that we take this kind of cross-committee framework without writing the details of the legislation, but we set that up. but that enables the i

instead it takes up sort of punitive sarbanes-oxley kind of approach to the private sector that we think really creates the wrong incentives, and what we really need is a positive be engagement with our government partners as opposed to kind of a punitive name and shame model. that's not going to provide the sorts of investment we really need. >> host: and, in fact, a quote from the internet security alliance when the proposals first came out: it would be much better if companies were proactively incented so that they wanted to find cyber attackers. >> host: what would be proactively incenting a company? >> guest: well, ironically, when president obama released his cyberspace policy review which was in march, i'm sorry, in may of 2009, he in his own document cited a number of these things. so we're talking about using liability incentives, we're talking about using, um, procurement incentives. the president at that time -- this was 2009 -- suggested that we needed to provide tax incentives. we think that we can also use streamlined regulation. we can do an awful lot more to bring the ins

drill everywhere bring more energy to market to bring down cost energy plan repeal obama care, fix sarbanes-oxleyodd-frank have a regulatory approach that is pro-jobs. let's have a sunset on all regulations. let's make sure before regulations go into effect there's a fine up and down vote by congress so real people who have to bear the burdens of these regulations have one more crack that their elected representative before those regulations go into effect. i know you support this. we have to have a constitutional amendment to balance the budget. i don't believe we can send politicians to washington and trust they are going to be fiscally disciplined. some will, most won't. we have to have what 49 of the 50 states have, a requirement, constitutionally, that budget be balanced. >> sean: impressive, not one thing you said that i disagree with. thank you for being with us. >> obama care in full swing. you won't believe what insurance companies are now required to cover. you will be shocked. we are looking out for your ♪ ♪ ♪ when you're resonsible for this much of the team, you need a car you can cot

call their congressmen and senators now and say go back to washington, repeal dodd-frank, repeal sarbanes-oxley, repeal obamacare. this summer start saving american families. we have real problems and we feed real leadership, now. >> thank you -- we need real leadership, now. >> thank you all. go to foxnews.com cast your vote on this debate our thanks to the candidates. thanks to their staffs. and to our debate partners washington examiner, iowa republican party and to all of the great people here at the auditorium, him. and of course to the wonderful people here in iowa they could not have been more hospitable. there's a big straw poll here saturday. stay tuned, through to the general election and the inauguration. all candidates, our next debate is september 22nd in orlando, florida we will see you there. thanks for watching tonight. good night. i'll throw it now sean hannity i'll throw it now sean hannity in the spin room. closed captioning by closed captioning services, inc. gloves off tonight. and is that good? or bad for the process? >> this is a challenge. you knew it had to happen. i th

call their congressmen and senators now and say go back to washington, repeal dodd-frank, repeal sarbanes-oxley, repeal obamacare. this summer start saving american families. we have real problems and we feed real leadership, now. >> thank you -- we need real leadership, now. >> thank you all. go to foxnews.com cast your vote on this debate our thanks to the candidates. thanks to their staffs. and to our debate partners washington examiner, iowa republican party and to all of the great people here at the auditorium, him. and of course to the wonderful people here in iowa they could not have been more hospitable. there's a big straw poll here saturday. stay tuned, through to the general election and the inauguration. all candidates, our next debate is september 22nd in orlando, florida we will see you there. thanks for watching tonight. good night. i'll throw it now sean hannity i'll throw it now sean hannity in the spin room. closed captioning by closed captioning services, inc. gloves off tonight. and is that good? or bad for the process? >> this is a challenge. you knew it had to happen. i th

we need to repeal sarbanes oxley. it does no good. it is just a dump bill d --umb bill. we ought to have a national conversation about this. we own 69% of alaska. 69 percent of alaska is federal land. alaska is twice the size of texas. that means we currently have in federal land 1.5 texases. surely we could designate one half of texas as national parks, forests, wilderness areas. that would be 125,000 square miles. and then we could say with the rest of alaska, what if we could find minerals, oil, gas? that means to be opening up an area the size of the entire state of texas. if governor harry gets in the race, he will tell you, that is a really big area. there is no reason we cannot have an honest discussion about this. the roosevelt created -- i get some heat from the far right because i really believe we ought to have a healthy environment. how conservative you are, having a river in the middle of a city catch fire is not a good idea. i wrote books called -- saying there should be a common sense, green conservatism. i am happy to have a dialogue with everyone in the

repealing sarbanes oxley. i can't tell you everybody i go from iowa to georgia to south carolina to florida, the number of people here in wisconsin who talk to me about how bad the economy is and how much washington doesn't realize that if we don't focus on jobs, we could slide into a really deep depression before this year is up. >> bill: the president is doing internal polling that shows what you are saying, that his job is in jeopardy. the president's re-election is in if the economy doesn't improve. he has got to know that every poll says it. people have lost confidence in him. he has got to know it. >> but your own talking points captured it perfectly. this is a paul krugman presidency. he believes that stuff. he actually believes in left wing economic ideas. the only problem with him is they don't work. sort of somebody -- >> bill: krugman is a smart guy but he doesn't care, i believe, and i really believe this, i don't think krugman cares about improving the economy. i think he wants to do a socialistic

we are going to get a balanced budget, constrain the growth of government, repeal obamacare, sarbanes-oxley, dodd-frank, let this economy get going things will turn around quickly. a lot of cash sitting on the sidelines, businesses have made profits but unwilling to invest in an economy where a president is so hostile to business and we have such incertainty because of the dramatic growth in the federal government and regulations promulgated. we turn that around, business will takeoff. >> greta: president obama without any doubt inherited a horrible economy. i said he owns the trend from the minute he did the stimulus. i'm curious, how much do you lay blame from where we are today at the feet of president obama and his ideology and how much external factors? that we are part of this balance economy when greece, ireland, italy and spain and portugal and china has their devalue their currency it all affects us. how much is the president and his political philosophy and how much is external? >> the political philosophy of the president is consistent with the greeks, spaniards and italians, gov

they ought to repeal sarbanes-oxley then work on serious tax cuts. every place i go businesses tell me, small businesses tell me, they are being crushed by regulation. >> sean: maybe we are wrong. maybe we are being too harsh for the president to go to martha's vineyard. where the elite go -- he can't seem to make decisions while on the job. maybe a little rest and relaxation will help him. you are pointing out, 36%, this was out today, of michigan children live in jobless households, 36%. one in five children research study came out, now live in poverty in america. 15% of americans rely on food stamps. the president admits the housing market has no chance of rebounding until 2013. unemployment up 408,000 today. 10 days in martha's vineyard may give him the time to contemplate that socialist policies have failed. any chance of that? >> i don't know. hope springs eternal. the challenge he has is that everybody whose advice he speaks doesn't know anything about creating jobs. everybody who knows about creating jobs he won't listen to their advice. i do

repealing sarbanes oxley. i can't tell you everybody i go from iowa to georgia to south carolina to florida, the number of people here in wisconsin who talk to me about how bad the economy is and how much washington doesn't realize that if we don't focus on jobs, we could slide into a really deep depression before this year is up. >> bill: the president is doing internal polling that shows what you are saying, that his job is in jeopardy. the president's re-election is in if the economy doesn't improve. he has got to know that every poll says it. people have lost confidence in him. he has got to know it. >> but your own talking points captured it perfectly. this is a paul krugman presidency. he believes that stuff. he actually believes in left wing economic ideas. the only problem with him is they don't work. sort of somebody -- >> bill: krugman is a smart guy but he doesn't care, i believe, and i really believe this, i don't think krugman cares about improving the economy. i think he wants to do a socialistic

i think you repealed sarbanes- oxley as part of that. >> that was my next question. do you support reinstating that? >> you have to. we blurred the line between investment and commercial banking. there are people in the big bank world that should not be. the dodd-frank does go after some of these larger banks, but remember what i said. if it is worth regulating, people sometimes believe it is worth over regulating. now we have small community banks caught in that web as well. when timothy geithner came and testified before the small business committee i sit on, i ask one simple question. when are we going to go back and review dodd-frank and clean it up? to make sure we are not penalizing small community banks? he told me he would get to it. [laughter] >> that question was from thomas simpson of poker upon -- boca raton. she is concerned about the spending in washington. julie johnson is from jupiter and says can't congress cut off the ridiculous -- [applause] can't congress cut off the travel allowance to the president and his family? [laughter] [applause] >> this i

congress should come back monday and repeal the dodd-frank peel, sarbanes-oxley, repeal obama care.rd idea for washington reporters to cover, but an important idea because it is key to american manufacturing success. i would love to see the rest of tonight's debate asking us what we would do to lead an america whose president has failed to lead instead of playing mickey mouse games. [ applause ] >> chris: speaker gingrich if you think questions about your record are mickey mouse, i'm sorry i think those are questions people want to hear answers to and you are responsible for your records. >> i think that there's too much attention paid by the press corp about the campaign minutia and not enough paid by the press corp to the basic ideas that us from barack obama. -- that distinguish us from barack obama. [ applause ] >> chris: governor huntsman, at the risk of raising speaker gingrich's ire i'm going to ask you about your record. you supported a stimulus package in 2009. you said the obama package was not big enough. you signed on a cap and trade market. you indivorce civil unions fo

congress should come back monday repeal the dodd-frank beale, sarbanes-oxley, obamacare hard idea for washington reporters to cover but an important idea because it is key to american manufacturing success. i would love to see the rest of tonight's debate asking us what we would do to lead an america whose president has failed to lead, instead of playing mickey mouse games. [ cheering and applause ] >> chris: speaker gingrich if you think questions about your records are mickey mouse, i'm sorry i think those are questions that a lot of people want to hear answers to and you are responsible for your record. >> if i get a rebuttal. i think there's too much attention played by the press corp about minutia and not enough to the basic ideas that distinguish us from barack obama. [ applause ] >> chris: governor huntsman, at the risk of raising speaker gingrich's ire, i'm going to ask you about your record. you supported a stimulus package in 2009. you say the obama stimulus package was not big enough. you served as. >> 's ambassador to china. -- you served as president obama's ambassador to

congress should come back monday and repeal the dodd-frank peel, sarbanes-oxley, repeal obama care.hard idea for washington reporters to cover, but an important idea because it is key to american manufacturing success. i would love to see the rest of tonight's debate asking us what we would do to lead an america whose president has failed to lead instead of playing mickey mouse games. [ applause ] >> chris: speaker gingrich if you think questions about your record are mickey mouse, i'm sorry i think those are questions people want to hear answers to and you are responsible for your records. >> i think that there's too much attention paid by the press corp about the campaign minutia and not enough paid by the press corp to the basic ideas that us from barack obama. -- that distinguish us from barack obama. [ applause ] >> chris: governor huntsman, at the risk of raising speaker gingrich's ire i'm going to ask you about your record. you supported a stimulus package in 2009. you said the obama package was not big enough. you signed on a cap and trade market. you indivorce civil unions

i work with dutch ruppersberger, sarbanes. the baltimore delegation, i don't want to leave anyone out. in the washington area, chris van hollen, who is also on the super committee, one of the 12. steny hoyer, the no. 2 democrat in ads of representatives, a person who was known not only for his strong leadership in the democratic party, but his ability to work across party lines, one of the best bridge builders we have in the house of representatives. , one of thes one o other members, representing prince george's and montgomery county. roscoe bartlett, a longtime member of the house from the western part of the state, one of the bride is the science-we have in the house of representatives -- one of the brightest science mines we have in the house of representatives, has been a strong spokesperson for energy and environmental policies in that house from the republican side. and then andy harris, newest member of our delegation, lives in baltimore county but represents the shore in anne arundel county and baltimore county. i wor

congress should come back monday and repeal the dodd-frank peel, sarbanes-oxley, repeal obama care.hard idea for washington reporters to cover, but an important idea because it is key to american manufacturing success. i would love to see the rest of tonight's debate asking us what we would do to lead an america whose president has failed to lead instead of playing mickey mouse games. [ applause ] >> chris: speaker gingrich if you think questions about your record are mickey mouse, i'm sorry i think those are questions people want to hear answers to and you are responsible for your records. >> i think that there's too much attention paid by the press corp about the campaign minutia and not enough paid by the press corp to the basic ideas that us from barack obama. -- that distinguish us from barack obama. [ applause ] >> chris: governor huntsman, at the risk of raising speaker gingrich's ire i'm going to ask you about your record. you supported a stimulus package in 2009. you said the obama package was not big enough. you signed on a cap and trade market. you indivorce civil unions

if you really were serious about job creation, you would repeal dodd-frank and sarbanes- oxley and dramatically replace the epa with a environmental solutions agency. you would create a new 21st century food and drug administration which would use lean six sigma, know about science in the lab and move it to the market place as rapidly as possible. that would have two effects. it would dramatically accelerate health solutions for americans and improve american lives. in the largest market in the world, which is what health will be, it would make america the dominant provider of health services and create millions of new jobs that are very high value. but that is literally the opposite of the current fda model. we are talking about changing the culture, getting up and saying how can i help get these things to the american people, not how can i stop them. there was a great book on polio. you will discover that salk this covers the vaccine and gives it to his own family to make sure it is safe. the following year, many americans are volunteered in the year after the whole country is facts and they

they voted for sarbanes-oxley. now they are against it when obama is in charge. let's be suspicious of their motives. they are identifying regulation that even by the obama administration's efforts are very, very expensive. host: let me give vivian and others some details. this is a story from "the washington post." it restrict the effort to transfer an assembly line to south carolina. they are seeking a spot for cheaper labor. int: let's hear from ann chicago, an independent. go ahead, ann. caller: it seems like more of the same. it doesn't make any difference. if it's something a republican has proposed, the turn around and say, let's don't. rwanda is up there with singapore. a next to no regulation -- next to know. this seems to be more bickering. if we had more people that would be buying our riches, we would hire more people. we need people who have money to get jobs. i think that things like rebuilding the infrastructure in this country would bring forward a lot of the job opportunities. every time the president has a good idea, it is not a good idea. host:

guest: i would beg to disagree and i would think the overregulation of sarbanes-oxley and dodd frank are making it more difficult for companies to upgrade in the united states. a lot of firms are not hiring here, they are hiring abroad. the dodd frank bill sets up an office of minority and women inclusion to make sure that banks and financial firms and subcontractors like the janitors and paper shredders have fair inclusion of women and minorities. that means that the presidents of our banks have to think do i have enough pacific islanders even though none might have applied. plus there are many other bureaus that makit tkeuf for our companies to -- make it difficult for our companies to operate hear and it is easier to operate overseas. so i would cesar baines oxley -- i would say that those have immeasurable obstacles to locating here that other countries do not have. host: now an independent caller from michigan. caller: the fundamental problem that our system has, i believe, the taxation act of 1920 was supposed to offer the public a n nonburdensome tax -- i thought those key wor

i am close with the ranking democrat on the intelligence committee and the john sarbanes, one of theeaders on the environmental and health issues. the baltimore delegation, i do not want to beat anyone out. from the washington area, not only the ranking democrat on the budget committee, he is on the super committee. he is one of the 12th. steny hoyer, the number 2 democrat, the person that is known not only for his strong leadership in the democratic party but his ability to work across party lines. one of the best bridge builders we have and the house. don edwards, one of the younger members who works in prince george's county. -- donna edwards. roscoe bartlett. one of the brightest science mines in the house of representatives. he brings that sensitivity to the congress and has been a strong spokesperson on energy and environmental policy in the house from the republican side. and then andy harris, who is the newest member of our delegation. he lives in baltimore county but represents the eastern shore and the western part of the short in anne arundel and baltimore counties. i work

guest: i would beg to disagree and i would think the overregulation of sarbanes-oxley and dodd frank making it more difficult for companies to upgrade in the united states. a lot of firms are not hiring here, they are hiring abroad. the dodd frank bill sets up an office of minority and women inclusion to make sure that banks and financial firms and subcontractors like the janitors and paper shredders have fair inclusion of women and minorities. that means that the presidents of our banks have to think do i have enough pacific islanders even though none might have applied. plus there are many other bureaus that make it tkeuf for our companies to -- make it difficult for our companies to operate hear and it is easier to operate overseas. so i would cesar baines oxley -- i would say that those have immeasurable obstacles to locating here that other countries do not have. host: now an independent caller from michigan. caller: the fundamental problem that our system has, i believe, the taxation act of 1920 was supposed to offer the public a n nonburdensome tax -- i thought those key words

so, if you really were serious about job creation you would repeal dodd-frank and, sarbanes-oxley, and, you would dramatically replace the epa with an environmental solutions agency. you would create a new 21st century food and drug administration whose job was to... assignment using lean six sigma as a way of designing it, to know about science in the lab and move it to the marketplace, as rapidly as possible and that would have two effects. you would dramatically accelerate health solutions for americans, lower the cost of health care, improve american lives, and, in the largest market in the world, what health will be, would make america the dominant provider of health services and information and create millions of new jobs, that are high value. but, that is literally the opposite of the current fda mind set. you are not just talking about changing the bureaucracy but the culture and people getting up in the morning, how can i help get these thing to the american people, not how can i stop them and there is a terrific book on polio. and, if you read it you will discover that salk d

you were repeal sarbanes-oxley.eal other things, and create a new food and drug administration. using the new way of designing it would be to know about science in the lab and move it to the marketplace and the patient as rapidly as possible. now that would have two effects. it would dreamentally accelerate health solutions for americans, lower the cost of health care, improve american lives, and it would make america the dominant provider of health services and information and create millions of new jobs that are high value. but that is literally the opposite of the current f.d.a. mindset. you are talking about changing the culture, people getting up in the morning saying how can i get these things to the american people, now how to stop them. there is a terrific book on polio. if you read it, you will discover that salke discovers his vaccine, gives it to his own family to make sure it is safe. the following year, 1.4 americans are volunteers. and the year after, the whole country is vaccinated. take the current f

guest: i would beg to disagree and i would think the overregulation of sarbanes-oxley and dodd frankaking it more difficult for companies to upgrade in the united states. a lot of firms are not hiring here, they are hiring abroad. the dodd frank bill sets up an office of minority and women inclusion to make sure that banks and financial firm and subcontractors like the janitors and paper shredders have fair inclusion of women and minorities. that means that the presidents of our banks have to think do i have enough pacific islanders even though none might have applied. plus there are many other bureaus that make it tkeuf for our companies to -- make it diicult for our companies to operate hear and it is easier to operate overseas. so i would cesar baines oxley -- i would say that those have immeasurable obstacles to locating here that other countries do not have. host: now an independent caller from michigan. caller: the fundamental problem that our system has, i believe, the taxation act of 1920 was supposed to offer the public a n nonburdensome tax -- i thought those key words were