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In due course it might well be argued that the act was right to make the relationship between auditors and their "clients" more distanced and adversarial but then went far beyond what was necessary in that respect by, among other things, imposing responsibilities on CEOs that they are not, in fact, in a position to discharge.
"Politicians don't seem to realise that the more you impose responsibility on schools the more they need that support.
That imposes responsibility on you – we're conscious of our social power, what we represent – but joy too.
"I think this is clear from the attacks that are made not just on our court but even on national courts, where they take a decision which is unpopular: the problem is always seen in terms of the Human Rights Act which grants rights but doesn't actually impose responsibilities on the individual.
But the SEC, with weak leadership, has done as little as possible to hold anyone accountable for the crash, while the Department of Justice has dodged one opportunity after another to impose meaningful responsibility on big corporations and their executives.
The fact that the prime minister presented his ideas as an agenda for a wide discussion - and not as if it was an announcement in the Queen's speech to be imposed by a new constitutional tsar complete with league tables to chronicle his progress - came as a massive relief, and it imposes a responsibility on everyone to contribute their own opinions during this formative period.
It is, however, a troubling law since it tries to impose criminal responsibility on individual bankers for collective failures.
One lesson from the last financial crisis is to impose more responsibility on the sector, Carney says.
Speaking at a press conference at the G7 summit in Germany after a day of confusing messages from the government, he said he had been referring only to the renegotiation phase, describing speculation over whether he would impose collective responsibility on the referendum campaign itself as "hypothetical".
Title III of the Omnibus Crime Control and Safe Streets Act already has imposed this responsibility on the judiciary in connection with such crimes as espionage, sabotage, and treason, §§ 2516 1)(a) and (c), each of which may involve domestic as well as foreign security threats.
"The first thing we have done is to reorient people away from this by creating a housing code that imposes a responsibility on landlords to have toilets in their houses". But critics say the role of politicians in sanitation has only made Accra's problems worse.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com