9/10/19
The Importance of Oversight • Governmental Support and Trust are Prerequisites to Effective Regulatory Agencies • It is Antithetical to Human Nature, however, to Place a High Degree of Trust in an Entity that Possesses Tremendous Power over which one has Limited Capacity to Control, Particularly where the Entity has the Power to Affect the Financial Health of one’s Most Valuable Asset
Effective Oversight is Essential to Accountability • The Most Effective Check Against Agency Abuses of Power is Oversight because it Operates to Effect Accountability • If Accountability Measures are Built Into the Regulatory Framework, it is much Easier to Place One’s Trust in the Agency
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