That's the POINT. Reasonable controls would be requiring a warrant (which is as simple as presenting a basic reason to an impartial judge). The government can already perform these taps with a warrant using the secret and expedited FISA court. This law guts the warrant necessity eliminating any reasonable control. It's already been shown that the FBI has abused these sorts of wiretaps with bogus National Security Letters. We're not saying don't wiretap, we're saying require a review (as required by the Constitution).
And, so what if the President got caught in Watergate? It was by accident that the unlocked door was found. How many more similar incidents have happened that we haven't heard about? We'll never know without auditable control.