We don't have such a policy. It is very expensive to increase reserves for the sake of it. The money can be better spent on other social needs.

Building up reserves for the sake of reserves is just as questionable as spending when you don't need to. The poor pay these taxes, too. And there are needs.

You have to have energy off the bench. That's an area we can get an advantage, so our reserves have to bring energy to the floor.

Unless you're big enough, biometrics can become prohibitively expensive.

There's very little mitigation going on, and it's because it's so expensive to do, just like it was so expensive to fix the levees. So I think we would have the same reaction: Why didn't we fix those buildings? Why didn't we fix the infrastructure?

When I was in office, the morning TV shows were dedicated to public policy. You'd turn on the 'Today' show and they'd have serious discussions of health-care problems and Cold War issues, and they'd have people from Congress on. Now it's all about lifestyle. It's cooking, it's dressing, it's celebrity-oriented, it's promotion of other television programs on the network, it's sensationalism. I think the heirs of William Randolph Hearst have taken over the whole industry.