I have come to view strong corporate governance as indispensable to resilient and vibrant capital markets. It is the blood that fills the veins of transparent corporate disclosure... the muscle that moves a viable and accessible financial reporting structure. And without financial reporting premised on sound, honest numbers, capital markets will collapse upon themselves, suffocate and die.
Speech to the Audit Committee Symposium, New York City. 'An Essential Next Step in the Evolution of Corporate Governance' (1999)