Frontline Warning 2009

from time to time I like revisiting the past productions - Frontline - 2009 - Warning, and looking back on history you get a different prespective on events. the one thing that jumps to mind from this Frontline Presentation is that Greenspan thought Fraud should be punished by the markets instead of in the courts - now look back at all the fraud and you get the message that we missed back when this episode aired.... its one hour long - enjoy

Also available here:
www.pbs.org...

What concerned me about the video...which we saw some time back...was the way that Brooksly Born tried to warn the govt about derivatives...and how she was ignored.

Born declined to publicly comment on the unfolding 2008 crisis until March 2009, when she said: "The market grew so enormously, with so little oversight and regulation, that it made the financial crisis much deeper and more pervasive than it otherwise would have been."[8] She also lamented the influence of Wall Street lobbyists on the process and the refusal of regulators to discuss even modest reforms.[8]

An October 2009 Frontline documentary titled The Warning [14] described Born's thwarted efforts to regulate and bring transparency to the derivatives market, and the continuing opposition thereto. The program concluded with an excerpted interview with Born sounding another warning: "I think we will have continuing danger from these markets and that we will have repeats of the financial crisis -- may differ in details but there will be significant financial downturns and disasters attributed to this regulatory gap, over and over, until we learn from experience."

en.wikipedia.org...

reply to post by 1BornPatriot


Dear 1BornPatriot,

Thank you for posting that. Personally, I believe Greenspan knew exactly what he was doing. He was enriching those who he saw as deserving. A very Ayn Rand thing to do. He believes in a world where fraud is okay and it is everyman for themselves. This is the same man that said that the housing market would have a soft landing. The same man that said that housing would not effect the stock market and the same one that was in favor of the bank bailouts. He sold out the country for personal gain.

Prior to the crash the economy saw an inverted yield curve. This is the number one indicator according to the Federal Reserve that you are about to experience a recession or depression. Greenspan went before congress and was asked about it, he said that it was different now and that the inverted yield curve would have no effect. Nope, this was all intentional.