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The time is now 5:16 am
You last visited
April 19, 2024, 5:16 am
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Eastern Time (GMT-5:00)
Who got it right?: Brooksley Born
Published:
http://www.pbs.org/wgbh/pages/frontline/warning/view/
You can learn alot in just the first two minutes.
Brooksley Born, (a former) head of the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis.
Her advice was ignored ... more like resisted & rediculed. Then LTCM (http://en.wikipedia.org/wiki/LTCM) blew up. Her advice was/is STILL resisted. She left the job. Many of the idiots who got it wrong have been ... promoted.
The derivatives (leveraged bets) bomb is still out there, only now it's much larger.
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