Brooksley Born vs. Alan Greenspan

Frontline looks good tonight. The episode, entitled The Warning, is about Brooksley Born, a woman who, in her capacity as chairperson of the federal Commodities Futures Trading Commission, apparently fought a long, hard battle against Alan Greenspan and the men of Wall Street to better regulate derivative trading. She, of course, lost. And, as you know, our entire economic infrastructure nearly collapsed as a result. It promises to be an interesting, enlightening and infuriating piece of journalism. Here’s a clip:

And, if you like that, you can find another clip here, about how the whole anti-regulation ball got rolling with Reagan, the Ayn Rand fanboy Alan Greenspan, Clinton’s deregulating Treasury Secretary Bob Rubin, and other “free-market true believers” like Larry Summers and the young Timothy Geithner.

Oh, and as coincidence would have it, while that’s on Frontline, Obama will be in New York, appearing at a $15,000 per-person fundraising event, asking for cash contributions from the very people who caused the whole mess in the first place – the same folks who Obama channeled billions of our dollars to this last spring…

I know I’ve said it before, but I think we need a revolution.

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3 Comments

  1. redacted
    Posted October 21, 2009 at 6:36 am | Permalink

    Did you put “free-market true believers” in quotes because you realize that’s all bullshit and they’re all basically Soviet commissars?

  2. Ed
    Posted October 21, 2009 at 8:38 am | Permalink

    We are so fucked as a nation. And we totally deserve what’s coming.

  3. Trey
    Posted October 16, 2010 at 11:10 am | Permalink

    I just watched The Warning on Netflix. Your prediction of “interesting, enlightening and infuriating piece of journalism” was right on.

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