House Republican Oxley may retire - sources

Reuters ^ | 10/31/05

[nypokerface]

WASHINGTON (Reuters) - The chairman of the U.S. House Financial Services Committee, Ohio Republican Rep. Michael Oxley, could announce his retirement as early as Tuesday, sources close to the congressman said on Monday.

Oxley's spokeswoman did not return calls for comment.

Oxley most recently shepherded a bill through the House of Representatives to overhaul regulation of mortgage finance giants Fannie Mae and Freddie Mac.

The bill must still clear the Senate, which is unlikely this year.

Despite Congress being in session, Oxley has events scheduled in his home state on Tuesday.

"There could be an announcement tomorrow in Ohio," said one source.

But other sources close to the congressman said he might also make the announcement from Washington on Wednesday.

Oxley, 61, entered Congress representing his Ohio district in 1981.

He co-authored the 2002 post-Enron corporate reform law that is commonly referred to as Sarbanes-Oxley.

[Theodore R.]

Will he finish the current term?

[Clintonfatigued]

OK, Buckeye State Freepers, who'll run to succeed him?

[NeoCaveman]

I don't know. The 4th district isn't my part of the state.

[nypokerface]

Hold on second, I'll go ask him.

[NeoCaveman]

In 2004 Oxley got 58.60% to 41.4% for the Dem.

[MikefromOhio]

I'm in district 7....

[Liberty Wins]

Hitlery still flashing those FBI files around?

[Political Junkie Too]

Gee, is it a coincidence that both Michael Oxley and Paul Sarbanes both chose to retire in the same year, the year that corporations are required to comply with the Sarbanes-Oxley (SOX) Act?

-PJ

[Drill Thrawl]

That "act" has been nothing but a disaster. It creates tons or paper but still doesn't not really make the situation any better. At the financial institution I work at we refer to Sarbanes Oxley (SOX) as the "Accounts and Consultants Full Employment Act of 2002"

More gubment regulatory BS!

[Theodore R.]

No surprise then, just another useless law with unintended consequences!

[Mr. Jeeves]

Had they been trying to come up with a bill to stifle innovation, kill telecommuting and other modern work style initiatives, and guarantee perpetual employment for big accounting/consulting firms, they couldn't have done much better than the Sarbanes-Oxley legislation. It's a classic example of Congress jumping in with both elbows and completely missing the intended target.

[AuH2ORepublican]

I don't know who'll run, but his district is just as safely Republican as the district that Portman vacated and brought about that uncomfortably close special election. I would prefer if Oxley served out his term and that the open-seat race takes place in the general election in November of 2006,, when we'll have much higher turnout.

[lunarbicep]

per Fox News:Rep. Oxley To Retire in '06