Twelve years ago, Brooksley Born headed an obscure government agency in the Clinton administration, where she tried to regulate risky financial instruments like derivatives.
Wall Street was able to stand in the way and stop the regulations from going through, and derivatives ended up at the heart of the 2008 financial crisis that almost sank the world economy. We speak to Born’s former colleague, Michael Greenberger, about what lessons can be learned from Born’s work in the ’90s.
Jeremy Hobson joins Robin Young as co-host of Here & Now in its new 2-hour format, from WBUR and NPR.
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