CFTC chairwomon Broksley Born gave warning about derivatives.

Discussion in 'Economy' started by 52ndStreet, Feb 18, 2010.

  1. 52ndStreet
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    52ndStreet VIP Member

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    I saw a documentary about CFTC chairwoman brokesly Born last night.
    This woman was trying to get the federal government to regulate the banking and brokerage industries , credit default swaps derivatives, long before we had the economic
    collaspe of 2008,2009.

    Allan Greenspan , and Mr. Rubin convinced the politicians not to act to implement any regualtions with regards to derivatives.

    Please google "Brokesly Born CFTC chairwoman" or the pbs documentary show "FRONTLINE".
    It was incredible. I think you can purcahse the DVD of the show.Contact Frontline at pbs.org!!!!$$$
     
  2. william the wie
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    william the wie Gold Member

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    Quite accurate OP. James Grant has also been sounding the same alarm since the 90s. So the dangers of OTC derivatives have known since the late 80s. However since the creation of the Plunge Protection Team in 88 with the knowledge of the banking community but not until 2000 was the public informed the idea of secret deals being better than transparency has spread.
     
  3. 52ndStreet
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    52ndStreet VIP Member

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    So as I understand it, these "derivatives" , are still being created and sold by banks, and brokerage houses.
    They market them using some other commodity other than ralestate.?
     
  4. uscitizen
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    uscitizen Senior Member

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    Let the market decide....

    And look where it got us.
     
  5. 52ndStreet
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    52ndStreet VIP Member

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    The market can not effectivly regulate itself. So what does the Federal government plan to do?
     
  6. PatekPhilippe
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    PatekPhilippe Senior Member

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    I started a thread about this several months ago when the liberals blamed the derivatives scam on Bush. They got real quiet and the thread died when the truth was revealed to them. Funny thing is look at who Obama has as his most trusted economic advisors right now......Summers....Rubin.....Bernanke....all the same players are still involved and influencing our leaders to do their bidding.

    It's pathetic!!!!
     
  7. uscitizen
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    uscitizen Senior Member

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    apparently continue to let the market misregulate itself.
     
  8. uscitizen
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    uscitizen Senior Member

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    New bunch same as the old bunch.

    And the same bunch continues to use politics to their advantage not ours.

    Be good little partisan sheeple and keep us on the wrong roads.
     
    Last edited: Feb 19, 2010
  9. PatekPhilippe
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    PatekPhilippe Senior Member

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    You stupid fuck......I just agreed with the OP. The Clinton Administration did nothing. The Bush Administration did nothing, the Obama Administration is doing nothing....

    Are you that lonely that you need to pick fights with other board members here this early in the day just so you have some interaction with another human?
     
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  10. 52ndStreet
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    52ndStreet VIP Member

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    Then we may have another economic crisis at some point in the future.?
     

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