It's paid-for agitprop to further the "belief" that making corps follow standard accounting guidelines and not transfer shareholder wealth to the pockets of executives with tricks and pompous promises is somehow "anti-capitalist." Lots of this garbage is floating around.
“The only laws needed to deal with actual corporate wrongdoing,” Dr. Ghate said, “already exist, namely, laws against breach of contract and fraud." Get unconfused.
This is just another big government power grab, cloaked in phony outrage by Senators who, if their own dealings on the Federal Budget were held to the same level of scrutiny they are demanding of corporate executives, would come out looking awfully bad by comparison.