Ex-GE chief bemoans corporate regulations

Former General Electric CEO Jack Welch says corporate America needed reform in the post-Enron era, but Welch contends the Sarbanes-Oxley act wasn't the answer. Welch calls the law's host of auditing requirements "overkill" and says that "any time a bill passes the Senate 99 to nothing, you know it's bad." Welch talked about his new book "Winning" in a conversation at the Commonwealth Club of California.