4/20/2021 0 Comments 13 Bankers Pdf
At the center of it all he finds Brooksley Born, who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008.I was told that she was irascible, difficult, stubborn, unreasonable.
Levitt explains how the other principals of the Working Group -- former Fed Chairman Alan Greenspan and former Treasury Secretary Robert Rubin -- convinced him that Borns attempt to regulate the risky derivatives market could lead to financial turmoil, a conclusion he now believes was clearly a mistake. ![]() Shes hanging up the telephone; she says to me: That was former Assistant Treasury Secretary Larry Summers. He says, Youre going to cause the worst financial crisis since the end of World War II. He says he has 13 bankers in his office who informed him of this. Born faced a formidable struggle pushing for regulation at a time when the stock market was booming, Kirk says. Alan Greenspan was the maestro, and both parties in Washington were united in a belief that the markets would take care of themselves. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |