I certainly believe that experts are important. The management of pension assets needs to be closely aligned with the management of pension liabilities. Investing assets is not necessarily like investing in a mutual fund. We need experts who understand the long-term nature of pension liabilities and how the particular asset portfolios can be constructed in a manner that best meets those long-term liabilities while minimizing risks. I think experts are the best to do that.
On April 21st, 2009. See this statement in context.