MICHELE NORRIS, Host:
NPR's Elizabeth Blair reports.
ELIZABETH BLAIR: Charles Bowsher is a former U.S. Comptroller General who headed the independent review.
CHARLES BOWSHER: We think when you're running a billion-dollar operation, you've got to have a very active board, putting in enough time that you really understand and provide very active oversight over what management is doing.
BLAIR: Part of the problem is the make-up of the board. Many of the members have little time for oversight. They include members of Congress, the chief justice and the vice president. The panel calls this structure antiquated, and recommends reforms, including a governing board that would be in close contact with the office of the secretary.
NORRIS: Senator Grassley is the ranking Republican on the Finance Committee, not its current head.]
CHARLES GRASSLEY: And I get the feeling from talking to regents who are members of the Senate that they're going to shake up the status quo. They're going to keep on top of things in the future. And I compliment them for a very good attitude towards this problem.
BLAIR: Elizabeth Blair, NPR News, Washington.
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