FRONTLINE: The Warning - PART 1

The story of the first near-meltdown under Clinton, caused by the OTC derivatives market, which CFTC chairwoman Brooksley Born had tried to warn about and regulate. But her efforts were thwarted by Alan Greenspan, Robert Rubin, Larry Summers, and Tim Geithner, who convinced Congress to ignore Born's warning and remove regulatory power from the CFTC. As a result, the derivatives market was allowed to grow, unfettered, to over $500 trillion and served as the foundation of the second near-meltdown under President Bush.

Category:

News & Politics

Tags:

• Frontline
• PBS
• The Warning
• Greenspan
• Rubin
• Summers
• Arthur Levitt
• Geithner
• Brooksley Born
• CFTC
• OTC derivatives
• Bill Clinton administration
• financial meltdown
• Bush bailouts

[bon1042]

It's being repeated right NOW on PBS, Tuesday, June 14. Actually it's 1:15 a.m. Wednesday morning..... it started again 15 minutes ago. Brooksley Born is a hero for our time !! I love this woman. I still have an activist button I've had for 30 yrs. It says... "God is coming.... and is... she... P*SSED !"

[Rawego]

@NakedSuit you have my permission to add Obama to your crooks list. go ahead, make my day :))

[Rawego]

@mediblue9 no, she would have shot her "devoted" follower, Alan Greenspan, instead. :))

[mediblue9]

Ayn Rand would of shot herself idf she live another 25 years!

[sleeplesscgho]

HE SHOULD TAR AND FEATHERED .....

[PetroniusArbiter2]

@MoralMoney -- It is puzzling, isn't it? I guess we MIGHT assume that somehow, there really might be some self-identifying TeaPartiers out there who really aren't "blinded by the right." But given everything else we've seen from the, ahem, Astroturf Movement, it's hard not to be suspicious of TeaPartyHomebodies' real intent. Thank God Frontline is still Frontline, "beholden to nobody."

[MoralMoney]

Ah. There's the link between Ayn Rand and Greenspan. But I'm confused now. Are you the one and only objective Tea Party member who doesn't blindly embrace libertarianism? One would assume that increased regulation of Wall Street woudl be the answer given what is shown in this video. What do you think about increased regulation of Wal Street?

[NakedSuit]

Awesome, the truth comes and comes and watch out folks economic Armageddon. Go Brooksely Born. Greenspan, Rubin, Ken Lay, Paulson, Clinton, Bush and Reagan, etc.......... all crooks.