Frontline: The Warning (2009, Documentary)

The Stanford educated chair of the obscure Commodity Futures Trading Commission (CFTC), Brooksley Born, knew something fishy was going on with the unbelievably secret and unregulated "over the counter" derivatives in the late 90's. She and the CFTC alone had the authority under federal law to regulate them and sought to do so. Ayn Rand disciple Alan Greenspan and his lackeys set out to discredit and destroy her, believing that regulation of OTC derivatives would interfere with the "invisible hand" of the market and would thereby damage America's booming economy. Elements of the late 20th century gender wars underpins this outstanding documentary about Washington Elites and their ability to influence an increasingly out of touch Senate, House of Representatives and President.

This documentary underscores how little or no regulation has brought disaster to this country. What struck me most was the arrogance of these guys. The fact that Greenspan confessed his sins and admitted he was wrong, should be enough for the naysayers.