02-04-2009: Oversight Beats Hindsight MEMPHIS, TN (WKNO) - Exercising oversight is hard work. Huge sums are invested and appropriated without oversight. Already Congress doesn't know where billions in federal bailout money has gone. In hindsight, it's easy to see how the mortgage mess could have been avoided. Since we seldom have 20/20 foresight, we used to depend on oversight to avoid the disappointments of hindsight.

John Malmo is chairman emeritus of Archer/Malmo Advertising and an independent marketing consultant. To reach Mr. Malmo - or to buy a copy of his book When on the Mountain There is no Tiger, Monkey Is King - go to johnmalmo.com. © Copyright 2009, WKNO