We can walk and chew gum at the same time. Yes, the American people want us to legislate, they want us to insist on furthering their set of values, but they also want us to resist and exercise our oversight powers.
Improving oversight of hedge funds and other private funds is vital to their sustainability and to our economy's stability.
Privacy is tremendously important. I believe the American people, and all people, should be skeptical of government power, should ask hard questions: What is the authority? What is the oversight? That's the way it ought to be.
The promise I've tried to honor my entire career, that the rule of law and the design of the founders, right, the oversight of courts and the oversight of Congress will be at the heart of what the FBI does.
The lesson is the importance of never becoming untethered to oversight and accountability.
JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously it's a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.
We are on the lookout for criminal and terrorist activity but we do not - nor will we ever - monitor ideology or political beliefs. We take seriously our responsibility to protect the civil rights and liberties of the American people, including subjecting our activities to rigorous oversight from numerous internal and external sources.
The Federal Reserve and other central banks have adopted broad public policy objectives to guide the development and oversight of the payments system. At the Fed, we have identified efficiency and safety as our most fundamental objectives, as set forth in our Policy on Payment System Risk.
When individual members of the team are highly disciplined, they can be trusted and, therefore, allowed to operate with very little oversight.
TSA serves as the operator, administrator and regulator for the nation's transportation security. But in fact, the TSA bureaucracy does all it can to thwart any conversion to a system with more private-sector operations and strong federal oversight and standards. This agency cannot, and should not, do it all.
