The Great Recession's unsung hero
One Woman Saw The Great Recession Coming. Wall Street's Boys Club Ignored Her
Brooksley Born could have prevented the Great Recession — if only Wall Street had listened.
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The Lede
The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity.
Key Details
- Born specialized in institutional and corporate law; complex litigation, mostly in the federal courts; and the regulation of the burgeoning futures market.
- "She could see that the data points, by lack of regulation, were heading the country into a serious set of calamities, each calamity worse than the one before."- Michael Greenberger
- As the US economy soared, the powerful trio of men wasn't inclined to entertain the idea that they might be doing something wrong.