Oversight is NOT (did you see that? yes, NOT. N.O.T.) the noun form of oversee. To get the noun form of oversee, we use this handy little thing called a gerund, formed by adding an 'ing' to the end of the verb 'oversee', and we end up with overseeing.
Which means that while reading the following passage:
In some cases, yes. But for the most part, these third parties cut up these securities, mixed them up, repackaged them, and sold them down the line in the form of Mortgage Backed Securities (MBS) or Collateralized Debt Obligations (CDO). There was little, if any, regulatory oversight. At each step, the parties in this chain collected profits, and believed they were handing off the risk.one does not go EH? Very little regulatory oversight is a good thing! Cos it means they DID oversee. They DIDN'T miss the checks, inspections etc.
If one uses the word overseeing instead.