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Frontline: The Warning


KFRCanuk

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Enjoyed it. The full interviews available via the links beside the video, such as Arthur Levitt's, were also enlightening, giving a lot more background to it. At the time it was only interest rate swaps she wanted to regulate. He says, in hindsight, he should've said, yes you're right, there shold be regulation and there should be an open, transparent market for them, but the existing swaps will be disrupted by sudden regulation, so let's grandfather them and apply oversight and transparency to new issues. This could have appeased both sides. Then again, Greenspan was such a deregulator, and there may have been such lobbying pressure/regulatory capture that they'd have still opposed vigorously.

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