Tom Woods on Frontline TonightTuesday, October 20, 2009
Posted in category Economics
FYI on Frontline tonight: FRONTLINE INVESTIGATES THE ROOTS OF THE FINANCIAL CRISIS
In the devastating aftermath of the critical moments when it might have gone much differently. Looking back into the 1990s, veteran FRONTLINE producer/director Michael Kirk (Inside the Meltdown, Breaking the Bank) discovers early warnings of the crash, reveals an intense battle among high-ranking members of the Clinton administration and uncovers a concerted effort not to regulate the emerging, highly-complex and lucrative that would become the within the American economy., FRONTLINE sifts through the ashes for clues about why it happened and examines
Reading the press release, we can understand why no Austrians were interviewed for the film.
Greenspan, Rubin and Summers ultimately prevailed on Congress to stop Born and limit future regulation of derivatives. “Born faced a formidable struggle pushing for regulation at a time when the stock market was booming,” Kirk says. “was the maestro, and both parties in Washington were united in a belief that the markets would take care of themselves.”
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