Questions for the Warning on Frontline
Question one
Brooksley Bourne is a competent and proficient character and would be a vital asset for the government. Bourne was a powerful force in the government and she headed the Commodity Futures Trading Commission from 1996 to 1999. The organization is a government agency involved in managing and supervising commodity options market and controlling future trends in the market (Namboodiripad, 2010). Bourne played a significant role in trying to prevent the 2008 financial crisis. In her position, she was able to foresee a collapse of markets and financial crisis resulting from the uncontrolled derivatives market. Moreover, she proposed and pushed for reforms and controls that would have prevented the 2008 financial crisis.
Question Two
The lobbyists and corporations, which included the banks involved in the derivatives market, played a significant role in facilitating the 2008 crisis. The multi-million derivatives market was controlled by the monopolistic shareholders (Namboodiripad, 2010). These parties included 5 major banking institutions and their associate companies. Moreover, government officials such as Rubin, Summers and Greenspan pushed for legislation to limit and prohibit Bourne from convincing the Congress to issue control on the derivatives market. The market was thus left to run freely without any legislative control, despite its instability and uncontrolled expansion.
Question Three
The documentary is incredibly insightful and reveals concealed information on factors that affect the economy (Namboodiripad, 2010). Moreover, the documentary reveals the weaknesses and mismanagement in the government and negative politics propagated by government officials. The information obtained is vital in preventing future financial crisis and a collapse of the market. In addition, an individual identifies the hidden egocentric actions and how they can be curtailed to protect the well being of the people.
Reference
Namboodiripad, E.M.S. (2010). The Frontline years: Selected articles. New Delhi: Leftword Books.
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