I just watched an excellent Frontline episode on the financial crises, credit default swaps and the deregulation of the Clinton era. It turns out that there were people who warned against the problems of credit default swaps. Brooksley Born, former chair of the Commodities Futures Trading Commission, repeatedly warned the Clinton adminstration and congress about the dangers of unregulated financial products like credit default swaps. Unfortunately for all of us, Greenspan, Summers, Rubens and Geitner silenced her and publically questioned her credability. Amazingly, many of the above, who helped create the financial crises, now work for the Obama administration.
Peace
- 10.Aug
- World March for Peace and Nonviolence
An effort by people in 90 countries to eradicate nuclear weapons, withdraw occupying armies and end wars.
Health
- 17.Mar
- Health Care Graphic
Check out the healthcare graphic made here, I modified it below.
The Warning
I just watched an excellent Frontline episode on the financial crises, credit default swaps and the deregulation of the Clinton era. It turns out that there were people who warned against the problems of credit default swaps. Brooksley Born, former chair of the Commodities Futures Trading Commission, repeatedly warned the Clinton adminstration and congress about the dangers of unregulated [...]