Congress set to hold hearing on topic of UFOs

Yahoo Finance Live's Rachelle Akuffo details the Congressional hearings scheduled to address UFOs and potential security risks.

Video transcript

- Welcome back. It's not a bird. It's not a plane and definitely not Superman. But on Capitol Hill, today, unidentified flying objects, better known as UFOs, are the subject of a congressional hearing, the first on the topic since 1969. Now, a naval intelligence official says, the military database of UFO sightings has 400 reports, but there is no evidence of aliens. Now, a key concern for both lawmakers and intelligence officials of national security and whether some of those objects could be a threat to the United States. But Scott Bray, Deputy Director of Naval Intelligence, warned that there has to be a balance between transparency and secrecy.

SCOTT BRAY: If UAP do, indeed, represent a potential threat to our security, then the capability systems, processes, and sources we use to observe record, study, or analyze these phenomena need to be classified at appropriate levels. We do not want-- we do not want potential adversaries to know exactly what we're able to see or understand or how we come to the conclusions we make. Therefore, public disclosures must be carefully considered on a case by case basis.

- Well, that balance between transparency and secrecy was on full display today. That public hearing lasted less than 90 minutes before it became a classified, closed door hearing.