The full Frontline documentary, “The Warning“, about Brooksley Born, former head of the Commodity Futures Trading Commission until forced out by Greenspan, Rubin and Summers, is now available for viewing online.
Born wanted to regulate OTC derivatives, but was blocked by “the committee to save the world,” at a time in the 1990s when the total worth of the derivative market was a “mere” $60 trillion.
Today that market, still unregulated, approaches a value of $1000 trillion.
She was right and they were wrong, and if her effort to regulate that market had succeeded, we’d be living in a much safer world today.
Watch this documentary. It’s an eye-opener.