The Best and the Brightest (Part 2)
By Jerome Grossman
Yesterday I blamed financial leaders and gurus for the financial turmoil destabilizing our country and the world without mentioning their names.
Today's New York Times, October 9, has the errors and the perpetrators in full gory detail led by Robert Rubin, Lawrence Summers, and especially Alan Greenspan. The heroes, ignored and unacknowledged, who tried and failed to establish an adequate regulatory process were Edward Markey and Brooksley Born.
Read the story and weep, then make sure that the people who made the mistakes do not get another opportunity to repeat.
/ | October 9, 2008
The Reckoning: Taking Hard New Look at a Greenspan Legacy
By PETER S. GOODMAN
Derivatives have long had a great supporter in the former Federal Reserve Chairman Alan Greenspan