Greenspan and Larry Summers quashed warnings about derivatives in the 1990s

Watch this video. “The Warning“. The description of the video from the website: “In the midst of the 1990s bull market, one lone regulator warned about the derivatives dangers — and overnight became the enemy of some of the most powerful people in Washington…”

“We didn’t truly know the dangers of the market, because it was a dark market,” says Brooksley Born, the head of an obscure federal regulatory agency — the Commodity Futures Trading Commission [CFTC] — who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country’s key economic powerbrokers to take actions that could have helped avert the crisis. “They were totally opposed to it,” Born says. “That puzzled me. What was it that was in this market that had to be hidden?”

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