Wednesday, June 15, 2011

Oversight

The U.S. Federal Government is responsible for oversight in key areas such as nuclear power generation and regulating financial sectors.

But "oversight" is a weasely and flawed word.

First, the government didn't protect citizen interests in the recent financial meltdown. How could such 'overheating' happen? (Top salespeople and 'oversight' officials regularly switch jobs). Home mortgage-holders have been held to account, but banking & other big industries were bailed out. Risk-taking decisionmakers continue to be obscenely rewarded in those industries. Please note Wall Street's political donations.

Second, what does oversight mean? Squat. Nothing.

Oversight means to regulate or supervise, but oversight is also defined as inadvertent error to notice or failure to do anything.

Confidence you can bank on! A confidence game where you're the hustled mark.

Another example: Nuclear meltdown has yet to occur in US, but the USA has twenty-three GE Mark 1 nuclear reactors like the Fukushima disaster nuclear plant. Oversight?

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