Okay, he doesn't actually use the R-word. But his disdain for SOA is clear, as well as his belief that it was a mistake.
Chicago Sun-Times, Apr 7, 2005 by Robert Novak The implementation of 404 by the Securities and Exchange Commission has created painful demands that drain corporations, large and small, of funds. This is springtime for auditors, with requirements for more of their number to perform the investigations. For more than a year, CEOs and CFOs have been telling me that 404 is a costly nightmare. Non-government estimates put the cost for publicly traded companies at $35 billion with a $4.4 million average per enterprise. Beyond the cost is the climate of fear, with executives warned by auditors that inadvertent mistakes could mean a 25-year prison sentence. Financial analysts see this as the principal reason American corporations are hoarding cash, afraid to invest. . . . A costly nightmare for corporations