"The Warning" --- To be broadcast beginning October 20, 2009, on PBS

In the 1990s, there was ONE WOMAN in Washington, DC, who realized, there is something dangerous about the obscure financial derivatives market.
And she got into a fight with some of the most powerful men in the WORLD.
Her name is Brooksley Born, and I am ashamed, I have NEVER heard her name.
And she lost - then the whole worldwide financial market lost.

"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- 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. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

Coming from Frontline, on PBS, on October 20, 2009.

"In the devastating aftermath of the economic meltdown, FRONTLINE sifts through the ashes for clues about why it happened and examines critical moments when it might have gone much differently. Looking back into the 1990s, veteran FRONTLINE producer/director Michael Kirk (Inside the Meltdown, Breaking the Bank) discovers early warnings of the crash, reveals an intense battle among high-ranking members of the Clinton administration and uncovers a concerted effort not to regulate the emerging, highly-complex and lucrative derivatives markets that would become the ticking time bomb within the American economy."

How about that?
Those evil, money-hungry Republicans!

Here:

http://www.pbs.org/wgbh/pages/frontline/warning/?utm_campaign=Warning&amp...

This video was sent to me by my friend Stephen. He ponders: "I wonder if the Clintons will try to keep this movie off the screen, like they tried with the "Path to 9/11" on ABC ..."

He adds this:

Looking into her background some more, I just found this:

"In 2009 Born was awarded the John F. Kennedy Profiles in Courage Award in recognition of the political courage she demonstrated in sounding early warnings about conditions that contributed to the current global financial crisis. According to the John F. Kennedy Presidential Library, "...Brooksley Born recognized that the financial security of all Americans was being put at risk by the greed, negligence and opposition of powerful and well connected interests... The catastrophic financial events of recent months have proved them [Born and Sheila Bair] right. Although their warnings were ignored at the time, the American people should be reassured that there are far-sighted public servants at all levels of government who act on principle to protect the peoples interests.""

Here:

http://en.wikipedia.org/wiki/Brooksley_Born

Category:

Education

Tags:

• Brooksley Born
• Worldwide Financial Market
• Frontline
• The Warning
• Michael Kirk
• U.S. Economy

[RainhadoCanto5]

Ha Ha Ha! Just love your analogy!!

You are welcome, from both!

[HispanicPatriot]

Than THANK YOU both!

This looks like a historic documentary.

In comparison to what the fiscal crisis has done to the US, and, indeed, the world, Watergate was a day care center prank!

[RainhadoCanto5]

Thank you, but credit belongs to StephenLoneWolf, whose account was suspended.

I pray he returns soon!

[LongRangeReconPatrol]

Thank you, RaihadoCanto!

The Clintons are the gift that just keeps on giving, aren't they?

Wow, what a story!

I can hardly wait to see it all!