Someone to Watch Over Them

{link » If you think stronger regulation is a good answer, heed Buffett}

“Mr. BUFFETT: Well, it's really an incredible case study in regulation because something called OFHEO was set up in 1992 by Congress, and the sole job of OFHEO was to watch over Fannie and Freddie, someone to watch over them. And they were there to evaluate the soundness and the accounting and all of that. Two companies were all they had to regulate. OFHEO has over 200 employees now. They have a budget now that's $65 million a year, and all they have to do is look at two companies. I mean, you know, I look at more than two companies. [emphasis added]

QUICK: That sounds like an argument against regulation, though. Is that what you're saying?”

Well, duh.


h/t Someone to watch over me / Linda Ronstadt

Post #400 Someone to Watch Over Them