The Warning
Prieur du Plessis (October 24th, 2009) Writes:
In the midst of the 1990s bull market, one lone regulator warned about derivatives’ dangers - and overnight became the enemy of some of the most powerful people in Washington …
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 -
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Yet another horrible day, which brings to mind just gambling away your savings at the 21 table. It can be a fine line between investing and gambling. But in Las Vegas, you know the odds. On Wall Street, that's not always the case. Especially when it comes to the $62 trillion market in arcane financial contracts known as "