WASHINGTON - Market participants made passionate, if opposite, arguments last week in response to Securities and Exchange Commission chairman Christopher Cox's remarks that he will renew his push to urge Congress to boost municipal disclosure and accounting standards, with issuers taking a strong stand against Cox and analysts supporting him.

State officials warned that such enhancements are not needed and dismissed the idea that any of the ongoing market problems, including the possible bankruptcy in Jefferson County, Ala., warrant wholesale changes to the existing municipal disclosure regime.

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