Mark Warner

I think the jury is going to be out based upon how well they are implemented both domestically and internationally.

I still have grave concerns about the investments around high-frequency trading, that it is not just all about liquidity.

I agree with Senator Corker that a lot of this bill was turning over to the regulators to try to figure things out.

The challenge as we kind of, and I am by no means an expert on domestic bankruptcy, let alone international bankruptcy, but the difference between how a bankruptcy fence goes in international countries is something that we clearly need.

I would love both of your thoughts as this administration takes on this conversation about what is an inherently governmental function.

I think you are saying then you have unlimited access to the data and how you slice and dice may not be as burdensome as in the past.

The only question I would have with that is I am not sure in this case more is always better and that at some point limitations--you could have--whether it is your contracting officials, whether it is your senior management, spending a…

I do think he has a point in terms of at some level in oversight a 535-member board, which in effect the Federal Government has with both the House and the Senate, each trying to ask specific items, can get into a level of micromanagement.

I personally believe we have gone from GPRA to PART to now the Obama administration's efforts as well.

The worst example of penny-wise, pound-foolish is not investing in the Federal contracting oversight work force

We put the brakes on spending.

I urge you to support that request.

As a matter of fact, it was ranked No. 1 in the whole country, a designation that we maintained until changes just in the last week or so.

You have to be relentless, that none of this is easy, none of this comes quickly.

It has been, a national embarrassment.

I think our Federal work force at times feels overwhelmed with whatever--whoever is coming in has got a new set of reporting requirements.

There is governmental oversight, but there is not a governmental efficiency metrics performance group.

But whether this position will be maintained, whether it will have enough juice I think the jury is still out.

There really is not that equivalent at the Federal level, and I think that has been one of the challenges.

I think it gets harder at the State level, but you still have that chief operating officer role as the Governor.

It would seem to me... we are going to see them again anytime soon.

And when you started even on the --in the ability to demonstrate the effectiveness of the program, did you sit with your leadership team and try to sort through which questions, did you have your staff--how do you even decide which is…

As Senator Warner mentioned, very few public problems can be isolated to a particular department.

Thank you, Executive Leggett.

Thank you again for your good work and thank you for appearing before us today.