I watched most of last night’s PBS Frontline presentation of The Warning. It tells the story of stalwart former CFTC chairwoman, Brooksley Born, her attempt to regulate OTC derivatives and how Rubin, Summers and Greenspan worked in concert to bring her down.
This program coincided with a potentially lucrative personal opportunity to develop an esoteric financial system. With the cherished advice of friends I made the decision to turn it down.
For the time being at least, I remain poor but happy.
@ Fec
Thanks for the reminder. Watched it just a while ago.
Since the winners write the history books I wonder how this will be recorded. FWIW, I expect a couple of decades of muddling through.
It was good to see Ron Suskind pop in once in a while. I think he still writes books.
Martin L. Gross was on the 700 Club recently and indicated we’ll survice as a country, just a much poorer one.
@ Fec
I suspect the country will survive, but forget the American Dream for 90% of the inhabitants.
Too late, I already did.