Brooksley Born's Warnings on Unchecked Credit Markets Were Ignored, Leading to Financial Crisis

Brooksley E. Born, appointed head of the Commodity Futures Trading Commission in 1996, warned about the dangers of unchecked trading in credit markets and derivatives. Despite her expertise and warnings, powerful Washington figures like Alan Greenspan dismissed her concerns. Her predictions proved prescient when the financial system collapsed years later, validating her calls for regulation of the then-unregulated over-the-counter derivatives market.