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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (88238)10/11/2008 6:50:42 AM
From: siempre338 Recommendations  Read Replies (1) of 116555
 
The Woman Who Could Have Prevented This Financial Mess Was Silenced by Greenspan, Rubin and Summers

But more than a decade ago, a woman you're likely never to have heard of, Brooksley Born, head of the Commodity Futures Trading Commission -- a federal agency that regulates options and futures trading -- was the oracle whose warnings about the dangerous boom in derivatives trading just might have averted the calamitous bust now engulfing the US and global markets. Instead she was met with scorn, condescension and outright anger by former Federal Reserve Chair Alan Greenspan, former Treasury Secretary Robert Rubin and his deputy Lawrence Summers. In fact, Greenspan, the man some affectionately called "The Oracle," spent his political capital cheerleading these disastrous financial instruments.

alternet.org
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