BITCOIN  – CRYPTOCURRENCY

 

 

ECONOMICS – FINANCE

Warning: graphic nudity                                            ” The Movie “

 

Nick Leeson and the Fall of the Barings Bank

THE BEGINNING OF THE END – FINANCIAL DERIVATIVES

Brooksley E. Born (born August 27, 1940) is an American attorney and former public official who, from August 26, 1996, to June 1, 1999, was chairperson of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the futures and commodity options markets. During her tenure on the CFTC, Born lobbied Congress and the President to give the CFTC oversight of off-exchange markets for derivatives in addition to its role with respect to exchange-traded derivatives,[4] but her warnings were ignored or dismissed, and her calls for reform resisted by other regulators.[5] Born resigned as chairperson on June 1, 1999, shortly after Congress passed legislation prohibiting her agency from regulating derivatives.[6][7]

In 2009, Born received the John F. Kennedy Profiles in Courage Award, along with Sheila Bair of the Federal Deposit Insurance Corporation in recognition of the “political courage she demonstrated in sounding early warnings about conditions that contributed to the current global financial crisis”.