Saturday, October 11, 2008


. . . and so here we are today

Thanks to Vivien Lerner for forwarding this disappeared news story (from The Nation, Editor’s Cut):

The Woman Greenspan, Rubin & Summers Silenced

In 1997, Brooksley Born warned in congressional testimony that unregulated trading in derivatives could "threaten our regulated markets or, indeed, our economy without any federal agency knowing about it." Born called for greater transparency--disclosure of trades and reserves as a buffer against losses.

Instead of heeding this oracle's warnings, Greenspan, Rubin & Summers rushed to silence her.


Hope this makes the papers tomorrow;_ylt=Au_EjuL7qNYIjodZCHZIinJm.3QA

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