Brooksley Born and the Power of an Opposing Idea

What managers can learn from the former CFTC chair's campaign. She warned the OTC derivatives market was in trouble, but no one took heed, and a crash followed

"If she just would have gotten to know us…maybe it would have gone a different way" said Arthur Levitt, former chairman of the SEC, in an excellent 2009 Frontline episode titled The Warning. The 'she' Levitt refers to is Brooksley Born, former Chair of the Commodity and Futures Trading Commission (CFTC), who waged an unsuccessful campaign to regulate the multitrillion dollar derivatives market, whose crash helped trigger the recent financial collapse.

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