Oct 25
Frontline: The Warning
Posted by Kristjan Velbri | Posted in Markets, Video | Posted on 25-10-2009
In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation’s worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Born, who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008.
More on derivatives (links)
1. Bank for International Settlements (ie. the bank of central banks) semiannual report on global over-the-counter derivatives (current outstanding global derivatives $592 trillion = 9.7 times world GDP*)
2. Office of the Comptroller of the Currency report on OTC derivatives in the US (current outstanding derivatives held by US banks $203.5 trillion = 14.13 times US GDP*)
3. Financial Sense Newshour special *warning* show on derivatives (mp3 audio file)
*2008 GDP numbers from the IMF
