The Regulator Who was Prohibited from Stopping the Crisis

FRONTLINE's "The Warning" 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, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC], 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.

"Greenspan did not believe fraud was something that should be regulated."

Greenspan, Rubin and Summers ultimately prevailed on Congress to stop Born and limit future regulation of derivatives.