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Financial derivatives, the biggest scam ever, now valued at over $1 Quadrillion!  Who knew? And who ignored?


In the midst of the 1990 bull market, one lone regulator warned about derivatives' danger, and overnight became the enemy of some of the most powerfull people in Washington.


What the derivatives do and the policy-makers understand this, is they allow parties, companies, financial institutions, governments, to shed the risks that they don't want to take and take on other risks that they would prefer to be exposed to.

The hidden history of the nation's worst financial crisis since the Great Depression, explores the early warning signs, and asks: Who knew? And who ignored?

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Looking back into the 1990s, veteran FRONTLINE producer-director Michael Kirk discovers early warnings of the crash, reveals an intense battle among high-ranking members of the Clinton administration and uncovers a concerted effort not to regulate the emerging, highly complex and lucrative derivatives markets that would become the ticking time bomb within the American economy.

FRONTLINE has produced a remarkable documentary titled "The Warning" which has aired on PBS Television across the nation and which will now force major changes in the Obama administration.

It documents how Sumners, Greenspan and Ruben attacked and blocked Mrs. Brooksley Born, who was in charge of the CFTC (Commodity Futures Trading Commission) when she warned of the derivatives danger in the mid 90s and heroically fought to regulate them.

This is really HOT stuff and if the President is at all conscious, Sumners and Geithner will be driven from his administration!

This brilliant presentation takes the problem that created the crisis back through the mentally challenged Greenspan, to its origin in his philosophical mentor, Ayn Rand.

Watch the entire movie here:

Frontline - The Warning: Financial Derivatives