"As head of the Commodity Futures Trading Commission [CFTC], Brooksley Born became alarmed by the lack of oversight of the secretive, multitrillion-dollar over-the-counter derivatives market. Her attempts to regulate derivatives ran into fierce resistance from then-Fed Chairman Alan Greenspan, then-Treasury Secretary Robert Rubin and then-Deputy Treasury Secretary Larry Summers, who prevailed upon Congress to stop Born and limit future regulation. This is the edited transcript of an interview conducted on Aug. 28, 2009."
Click HERE to view some of the TV Interview. But this footage does not show the ugly, vehement, arguably sexist response and attempts to discredit Born's request to "merely ask questions" about a troubling market.
Booksley Born was essentially silenced, and ultimately resigned from her post during the Clinton's admin. Beaten down by Greenspan, Larry Summers, Robert Rubin, Arthur Levitt and lots of men in Congress who didn't see any reason to burst the economic bubble of the 90's.
http://cclemens.typepad.com/my_weblog/2010/09/larry-summers-vs-brooksley-born-did-we-let-a-misogynous-fox-in-the-hen-house.html
I hope President Obama let's Summers float away....
"In the ’90s, he was chief economist for the World Bank and later Secretary of the Treasury under the Clinton administration. In the 2000s, Summers served as president of Harvard but ultimately resigned due to controversy surrounding a statement he made about women and the sciences. Most recently, he served as the director of the National Economic Council immediately following the 2008 financial crisis. Summers drew upon these varied experiences in speaking about the topics of leadership and the economy to audiences at the College".http://thewilliamsrecord.com/2012/01/18/larry-summers-lectures-on-economy-encounters-opposition/
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