Conversion Solutions Holdings (fka CSHD)

[Mark_Leh]

IMO Rufus is just trying to save his ass...he will most likely make a deal and then name names......

I doubt that strategy will be successful. He violated the one law that certain politicians and bureaucrats really care about defending.

Many people (the Committee on Capital Markets Regulation, Michael Bloomberg, and recent converts such as Eliot Spitzer and George Bush) feel that Sarbanes-Oxley goes way too far. But the legislation has strong defendants among the newly strengthened Democratic Congress and the SEC, who promoted it to begin with.

The original excuse for the legislation was to prevent corporate fraud. Unfortunately to my knowledge there has not been one single prosecution which depended on Sarbanes-Oxley. When the debate heats up and this uncomfortable fact starts getting repeated in the press, there is going to be a lot of pressure to find some justification for the legislation. And what better justification than nailing a fraudster (a Republican yet!) who signed off on the Sarbanes-Oxley certification and thus is ending up behind bars? I think it's quite possible that the leisurely pace of the SEC investigation into CSHD might suddenly change and even that Mr. Harris might become the poster child for this pro-Sarbanes-Oxley campaign.

Many people originally hoped that Mr. Harris would get a lot of attention in the national press. They may well get their wish--though not the kind of attention they envisioned.