Frontline had a very good program on a couple of weeks ago. Thankfully, one can still watch it
online which I just did. The program is about the unregulated market in derivatives and how a woman named
Brooksley Born (above) back in the 90's tried to warn the government that there needed to be regulation of this dark market. Unfortunately, the economic powers that were, Alan Greenspan, Robert Rubin, Larry Summers, held sway, and nothing was done, despite events at the time! And today, we've seen how derivatives brought Wall Street to its knees and how the government has had to step in and bailout a number of firms. Hopefully, there will finally be some regulation enacted, but it is slow going, particularly with Obambi in the White House.