The warning that Brooksly Born gave Clinton was derailed by Rubin, and Greenspan.

[midnight]

In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation's worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Born, who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008.

"I didn't know Brooksley Born," says former SEC Chairman Arthur Levitt, a member of President Clinton's powerful Working Group on Financial Markets. "I was told that she was irascible, difficult, stubborn, unreasonable." Levitt explains how the other principals of the Working Group -- former Fed Chairman Alan Greenspan and former Treasury Secretary Robert Rubin -- convinced him that Born's attempt to regulate the risky derivatives market could lead to financial turmoil, a conclusion he now believes was "clearly a mistake."http://www.pbs.org/wgbh/pages/frontline/warning/etc/synopsis.html


This is worth a repeat considering that Elizabeth Warren is making her Consumer Protection recommendations known.....

[Skink]

1. I think hte Clenis was hoping she would talk some sense into those guys.

[freethought]

2. I would recommend the whole nation watch that epi of "Frontline"

The journalism that "Frontline" is producing is almost without equal. Protect your mavericks, they may save your ass!

[jotsy]

3. I've caught this twice and it was as compelling the second time.

Black Box financial formulas are smoke, mirrors and all the bull you can borough in between. The public has had its pockets picked and the banksters insist there is more to pilfer. Their voracious appetite will not be satisfied until they are convinced they have sucked us dry.

Kickety kick.

[babyblonde]

4. RUBIN said last week

the Condi line NOBODY COULD HAVE IMAGINED there would be a meltdown:grr: :nuke: :banghead: