Prophet and Loss

stanfordalumni.org by Rick Schmitt | Apr. 4, 2009 (Review)
Brooksley Born warned that unchecked trading in the credit market could lead to disaster, but power brokers in Washington ignored her. Now we're all paying the price.

Speaking out for the first time, Born says she takes no pleasure from the turn of events. She says she was just doing her job based on the evidence in front of her. Looking back, she laments what she says was the outsized influence of Wall Street lobbyists on the process, and the refusal of her fellow regulators, especially Greenspan, to discuss even modest reforms. “Recognizing the dangers . . . was not rocket science, but it was contrary to the ... Full Story »

Posted by Ben Ross

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Subjects: World, U.S., Politics, Business
Topics: Global Economy, U.S. Economy, Lobbying, Finance
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Posted by: Posted by Ben Ross - Apr 4, 2009 - 8:32 AM PDT
Reviewed by: Ben Ross (review), Fabrice Florin (review), Jack Dinkmeyer (review)
Content Type: Article
Edit Lock: This story can be edited
Edited by: Ben Ross - Apr 4, 2009 - 8:32 AM PDT
Related Comments: Global Economy (2)

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Jack Dinkmeyer
4.5
 by Jack Dinkmeyer - Apr. 4, 2009

Nothing here we didn’t already know or suspect. The article’s strength is that it’s from an insider’s POV. If only they hadn’t ignored her? How the Hell naive can you get? After spending the last two decades engineering the greatest successful holdup in history, why would the head larcenists pay any attention to an inferior peasant underling? And thus, we’re now savoring the delectations of the 2008 Depression while the boys count the loot.

Greenspan doesn’t think there’s any need for laws against fraud??!! Jesus! No wonder we’re in the toilet!

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Ben Ross
4.0
 by Ben Ross - Apr. 4, 2009

Should be front page news....well and calmly presented....Pants' the greedy profiters in finance, media , wall st , showing that alarms were raised and unheeded.

she was right....might be a good candidate to right the fractured relationship between Wall st and The US gov.

Ben posted this story.
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Fabrice Florin
3.4
 by Fabrice Florin - Apr. 4, 2009
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