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Swap markets now under CFTC supervision


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And it only took 10 years! How is it that the original inhibiters of the CFTC, like Lawrence Summers, are still respected?


This interview with Brooksley Born communicates the tone of Washington back in the day: http://www.stanfordalumni.org/news/magazine/2009/marapr/features/born.html


“Well, Brooksley, I guess you and I will never agree about fraud,” Born, in a recent interview, remembers Greenspan saying.


“What is there not to agree on?” Born says she replied.


“Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud,” she recalls. Greenspan, Born says, believed the market would take care of itself.

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