Math + Quant Finance

Contact us ←

Biography: IMackGroup provides mathematics edutainment and quantitative finance products and services.

My Social Profile

"The Warning" - Brooksley Born, Alan Greenspan, Larry Summers, Bob Rubin (video)

June 20, 2011 0 Comments

As chairperson of the Commodity Futures Trading Commission (CFTC) during the Clinton administration, Brooksley Born became alarmed by the lack of oversight of the secretive, multitrillion-dollar over-the-counter (OTC) derivatives market.

Chairperson Born's attempts to regulate derivatives ran into fierce resistance from then-Fed Chairman Alan Greenspan, Clinton's Treasury Secretary Robert Rubin and Rubin's Deputy Treasury Secretary Larry Summers, who prevailed upon Congress to stop chairwoman Born and limit future regulation of the OTC derivatives market.

No comments for this post

Add a comment

Post categories

No blog categories

Post archives

No blog archives