
Who is Brooksley E. Born?
Ask almost anyone and you’ll invariably get a shrug. Elizabeth Warren may be a bit better known, but if the Republicans have their way, she will likely also be erased forever from the American consciousness.
From August 26, 1996 until June 1, 1999, Brooksley E. Born chaired the Commodity Futures Trading Commission (CFTC), the federal agency charged with oversight of the futures and commodity options markets.
Unfortunately, like Warren today, Born took her role seriously and lobbied Congress and President Clinton for regulation of highly complex financial instruments known as “derivatives,” whose value derives from combinations of other, more basic, underlying assets. Read the rest of this entry »
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