A Quote by Warren Buffett
I think the oversight is great, and I think that oversight ought to be devoted almost entirely to the question is this being done at market you know. In other words, you want to make sure that the government isn't investing foolishly. But you don't want to care about which congressional districts it goes to or whether banks get favored over.
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It is a little bit difficult to talk about things that do involve classified matters in public. But I think the public needs to know that there are multiple oversight layers, including the FISA Court, congressional oversight, internal oversight within the FBI and intelligence community, that protects Americans from - under - their - their privacy rights while targeting terrorists and people who are trying to kill us.
Congress has the constitutional authority to investigate the other agencies of government. We are the watchdogs of the taxpayer's money, and we have the right to know how that money is being spent and to conduct oversight over the government.
The office has oversight of people who do analysis and oversight of people who do operations, but it is not charged with doing either. That is an important point to make. Those functions are performed by the CIA, DIA and other agencies.
In education, it is said that the state must impose schooling on all children, else the parents and communities will neglect it. Only the state can make sure that no child is left behind. The only question is the means: will we use the union and bureaucracies favored by the left, or the market incentives and vouchers favored by the right. I don't want to get into a debate about which means is better, but only to draw attention to the reality that these are both forms of planning that compromise the freedom of families to manage their own affairs.
Being here in Detroit, our public education in this city is - it's shocking. And the oversight of it and the oversight of the teachers and the funding is nonexistent, and the priority that's put on it is so low.
As both a career intelligence officer and as an American citizen, I am a strong believer in the importance of oversight. Simply put, experience has taught us that CIA cannot be effective without the people's trust, and we cannot hope to earn that trust without the accountability that comes with Congressional oversight.
I think that local school districts - not the federal government - should make the decision about how they teach science, biology, economics. I want my kids to be taught about evolution; I want my kids to be taught about other theories.
Congress can protect small businesses by providing effective oversight over SBA policies and make sure they take into account the needs of small businesses while also protecting taxpayer dollars. Congress also needs to make sure that new banking regulations do not make it more costly for community banks to lend to small businesses.
One of the responsibilities of Congress is the power of the purse, but there is also oversight. In order to have proper oversight, you have to have agency administrators, directors, and secretaries of those agencies speak frankly and about the facts.
The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.
The government isn't going to say, "We're going to regulate banks, but we'll leave these other companies alone." I think the regulators want to make sure that they have some form of regulation on anything systemic. We like our hand. But, you know, honestly, who owns the future?
People don't want children to know what they need to know. They want their kids to know what they ought to need to know. If you're a teacher you're in a constant battle with mildly deluded adults who think the world will get better if you imagine it is better. You want to teach about sex? Fine, but only when they're old enough to do it. You want to talk politics? Sure, but nothing modern. Religion? So long as you don't actually think about it. Otherwise some furious mob will come to your house and burn you for a witch.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that
I get vested in my guys. I want to know who their family members are, I want to know their interests, I want to know what makes them tick. I want them to also know I care about the other side of them, their personal character and growth as men, because I think we all sharpen each other that way.
I want to emphasis again, Governor (Thomas) Kean and Congressman (Lee) Hamilton pointed out that congressional oversight also was a major contributor to our failures prior to 9/11 and that has to be fixed as well.
I'm increasingly inclined to think there should be some regulatory oversight, maybe at the national and international level just to make sure that we don't do something very foolish.
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