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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.

Entry #311

Comments

1.
MADDOG10Comment by MADDOG10 - October 28, 2009, 9:40 am
It's just like Pearl Harbor, nobody wants to listen or even bother to investigate what was said.
2.
Rick GComment by Rick G - October 28, 2009, 2:04 pm
They have no intention of fixing anything. The economic destruction of the US is the primary goal. That's the only logical explanation for the insane economic policies we're witnessing. The Economic 9/11 (taking place circa 9/11/08 when a half trillion dollars was quietly withdrawn from the investment pool over a two hour period before it was stopped) didn't get the phony press coverage of the WTC attack but it was even more lethal. The attack itself could have been overcome but we'll never survive the reaction to it. As was planned. We are the victims of some major crimes that are going uninvestigated and unpunished. Tells you who is in charge of things.
3.
konaneComment by konane - October 28, 2009, 2:26 pm
Seems like their intention is to collapse us economically take our stolen treasury funds and buy our real estate ... including valuable commercial real estate ... at fire sale prices. Only change between the distant past and now is the war lords are wearing suits.
4.
time*treatComment by time*treat - October 28, 2009, 7:07 pm
I've been hearing commercial real estate is one of the next things to go. Lots of empty strip-mall space, I'm hearing. There's a 30 minute vid called 'Lost Vegas' that paints a bleak picture, if the rest of the nation follows that trend.
5.
TigerAngelComment by TigerAngel - October 29, 2009, 12:50 am
Yep, it's on purpose and Ms. Born is lucky she wasn't railroaded into prison on some trumped up charges as some whistle blowers have. I heard the main jobs in the future will be working for the gov. But around here they are letting go of local gov employees by the hundreds. I guess it will take awhile to transition into the new gov jobs, like planting potatoes.

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