Oxley's Sorta Mea Culpa

Recently I read excerpts from an International Herald Tribune interview with Michael Oxley, the former Ohio Republican congressman, in which he offered an apology of sorts for the onerous legislation that bears his name. Some quotes:

"Frankly, I would have written (the legislation) differently."
"It was not normal times...people felt like they were getting cheated."
"Everybody felt like Rome was burning."

An uncommon level of honesty, possibly attributable to the fact that Oxley has retired from public office for a job at a Washington law firm. However appreciative the business community might be for this apology, it's likely that an amendment would be more appreciated, especially since compliance issues with laws like SarbOx and HIPAA are a major factor likely to drive global data storage needs past capacity for the first time ever in 2007 (not to mention potentially driving companies away from US markets and exchanges in a time of increasing global competition).