Professor William Black:

Right. One of the great stories of the savings and loan crisis is the reason we succeeded in those criminal prosecutions is that Congressman Doug Barnard held a hearing, as part of the regular oversight function, and embarrassed the heck out of our agency, the FBI and the Department of Justice. He exposed the fact - this is around 1983 - that there was no effective system for making criminal referrals and for prosecuting people. Yes, vigorous oversight hearings by the Legislature, to use a generic phrase, are critical.