CFTC chairwomon Broksley Born gave warning about derivatives.

[52ndStreet]

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!!!!$$$

 

[william the wie]

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.

 

[52ndStreet]

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.

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.?

 

[uscitizen]

Let the market decide....

And look where it got us.

 

[52ndStreet]

Let the market decide....

And look where it got us.

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

 

[PatekPhilippe]

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.

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.?

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!!!!

 

[uscitizen]

Let the market decide....

And look where it got us.

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

apparently continue to let the market misregulate itself.

 

[uscitizen]

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.

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.?

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!!!!

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.

 

[PatekPhilippe]

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.?

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!!!!

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.

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?

 

[52ndStreet]

Let the market decide....

And look where it got us.

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

apparently continue to let the market misregulate itself.

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

 

[American Horse]

I started a thread about this several months ago when the liberals blamed the derivatives scam on Bush.

Could you link to that Pat?

 

[uscitizen]

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

apparently continue to let the market misregulate itself.

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

WILL, not may.

 

[uscitizen]

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!!!!

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.

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?

And that post of mine targeted you?

 

[Paulie]

Let the market decide....

And look where it got us.

The market is human beings. The government is still human beings.

Human beings are not perfect, so no matter if the market or the government regulates, it will not be perfect.

When the government regulates, the lobbyists for big business will simply get those in charge of regulating within the government to create the most favorable situation for them.

In the end, we're all dead.

 

[xotoxi]

CFTC chairwomon Broksley Born gave warning about derivatives.

'Chairwomon'?

Is that an ebonic word for something?

 

[uscitizen]

Let the market decide....

And look where it got us.

The market is human beings. The government is still human beings.

Human beings are not perfect, so no matter if the market or the government regulates, it will not be perfect.

When the government regulates, the lobbyists for big business will simply get those in charge of regulating within the government to create the most favorable situation for them.

In the end, we're all dead.

We had laws to protect us from most of this crap happening and they were done away with???
That deregulation was without a doubt the result of lobbyist pressure (like money), so I still do not think we should have bailed out any finiancial institution that was not guaranteed under FDIC and then to the limits of FDIC coverage.
They wanted to take the risks for the big money? Yeah what risk?
Also the finiancial firms should not have been allowed to just simply magically become a bank and get bailed out.
How the frack does that work anyway?

Well off my soapbox rant.

 

[Toro]

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

apparently continue to let the market misregulate itself.

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

Yes.

Not "may." "Will."

 

[Neubarth]

apparently continue to let the market misregulate itself.

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

Yes.

Not "may." "Will."

Tomorrow or the next day.

 

[52ndStreet]

There has got to be something illegal, about some of those derivatives.
Some one has got to be stealing money from derivatives, and leaving us the general public, with an empty bag.

 

[Toro]

There has got to be something illegal, about some of those derivatives.
Some one has got to be stealing money from derivatives, and leaving us the general public, with an empty bag.

There is nothing illegal about almost all derivatives. In fact, many derivatives are created to legally get around regulations and laws.