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"Brooksley Born"

Mike

Well-known member
Anyone see the PBS show last night about this lady that had the foresight to see the ensuing derivative market crash and bring down the economy?

Google her name and click on the PBS show.

She fought Greenspan, Rubin, Geithner, Larry Summers and a whole slew of regulators during the Clinton admin to regulate thru the CFTC.

It's a good read and a good show. Tells the whole truth of the money market meltdown that started during the 90's.........

Remember her name, you'll be seeing more about her in the future.
 

hypocritexposer

Well-known member
did a search, here it is online for those that missed it, including me :oops:

thanks Mike (check your PMs,)

http://www.pbs.org/wgbh/pages/frontline/warning/view/
 

Tam

Well-known member
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. "They were totally opposed to it," Born says


Who was the President in the late 90's that was warned by Born and did nothing to stop the economic crisis? Oh Yea CLINTON :? :wink:

I agree with this quote but I doubt many Dems would
If Clinton hadn't been so busy waiting for Monica to show up - maybe he could have gotten some work done. Greenspan and his bunch showed their male egos and stupidity and now we all have to pay for it.
and Who was included in Greenspan's bunch? No other than Obama's Tax Cheat Geithner and "the Recession is over" Summers. If neither of these guys would heed the warning why should anyone be confident they know what they are doing now? It's there a saying about the signs of insanity is doing something over and over and expecting the outcome to be different. Well using the same stupid Advisors that caused the crisis due to their male egos to fix the crisis might fall into the same catagory, INSANITY.

"W" and the Repubs brought a bill to congress that would have regulated Freddie Mac and Fannie Mae, but Barney Frank and the Dems in power at the time shot it down, with Frank saying "there is no Financial Crisis"...The DEMS have been lying about this ever since, saying it was them that brought it and that Bush shot it down..this is bold faced LIE just like all the other info from the DEMS.

"Bush and the Repubs. brought a bill and the Dems shot it down" Say it isn't so, Oh yea Oldtimer did say it didn't happen didn't he. According to him it was the BUSH BUST :wink: :roll:


My guess we won't see Oldtimer believing anything he reads on this link . :wink:
 

hypocritexposer

Well-known member
At today’s Financial Crisis Inquiry Commission hearing, Brooksley Born, the former head of the Commodity Futures Trading Commission, declared Alan Greenspan’s tenure at the Federal Reserve an unmitigated failure – to his face. Greenspan accords a certain degree of respect on Capitol Hill, despite Born’s accurate take on his many failures, and so this outburst was highly unusual – and gratifying.

Born, who pushed to strictly regulate derivatives under the Clinton Administration, but lost the battle to, among other people, Alan Greenspan, told the former Federal Reserve chair that his agency “failed to prevent housing bubble, failed to prevent the predatory lending scandal, failed to prevent the activities that would bring the financial system to the verge of collapse.”

“You failed to prevent many of our banks from consolidating and growing to a size that are now too big or too interconnected to fail,” Born added. She added that Greenspan’s views on deregulation, which he took as an article of faith, contributed to the Federal Reserve’s failure in delivering on its mandate.

http://news.firedoglake.com/2010/04/07/brooksley-born-excoriates-alan-greenspan-you-failed/
 

Mike

Well-known member
Greenspan threw the onus on Congress.

I wonder if the commission is going to question Frank & Dodd?
 
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