PBS Frontline The Warning Video PDF

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Students Name Instructor Course Date PBS Frontline “The Warning” Video Question One The ethical culture of the derivatives market was seen where there was both male and female representation and in this case, it was Born, or some of her efforts that shed light about the derivatives market. According to the film, this could not have been the case if there was no equality in the sector where women have the right to correct the flaw in the model believed to be the critical functioning structure responsible for how the world works. Through the ethical culture in the Wall Street, it was possible to tighten the regulations even though they were anathema to the Wall Street prevailing culture hence the 2008 financial collapse. According to Born, there were no regulation and recording keeping for the transactions which took place during this period. This made it impossible for Born or any other government regulator, to understand some of the transactions that were taking place including unregulated contracts which were not regulated in the exchange but between private parties. Question Two Brooksley Born was the one who attempted to address the problem in the derivatives markets. According to Born, “We didn't truly know the dangers in the market because it was a

dark market. There was no transparency.” One of the reasons she was being ignored and her efforts termed as potentially disruptive regulation is the fact that she was trying to protect the money of the American public which was at a huge risk. Even after testifying at the Congress four times, they could not understand her because about 90% of the congressmen could not understand what derivatives are because they only recognize the Wall Street guys who make a huge contribution to their campaigns. Additionally, the congress committee was being fed with false information from respectable sources hence they could not hear anything Born was saying. Question Three First, Born lacked political support behind her. Hence, even the Congress committee members were not taking whatever she was saying seriously. The political climate in Washington was nonconductive for Born because she was fighting with big three politicians who included Alan Greenspan, Rubin, and Summers. Immediately after Born started claiming that there was fraud taking place and the money belonging to the American public was at risk Alan Greenspan invited her for lunch to use his political influence to convince her that she should not speak about it. However, Born did not take the threats, and she decided to talk about it on camera. Question Four In the history of financial regulation, there is not even a single financial regulator who did not feel that protection of fraud was part of their mission. However, some of the financial regulators in the Clinton administration did not find fraud to be a big deal. There was no prosecution of the top government figures involved in the 2008 financial collapse. However, one of the top bankers Kareem Serageldin was found guilty of the fraud and was jailed. Work cited

PSB

Frontline

Video

“The

Warning”.

Retrieved

on

http://www.pbs.org/wgbh/pages/frontline/warning/etc/script.html

30/03/2017

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