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415. No tomorrow

By Joel Jacobsen

From the Stanford alumni magazine: Shortly after she was named to head the Commodity Futures Trading Commission in 1996, Brooksley E. Born was invited to lunch by Federal Reserve chairman Alan Greenspan.The influential Greenspan was an ardent proponent of unfettered markets. Born was a powerful Washington lawyer with a track record for activist causes. Over lunch, in his private dining room at the stately headquarters of the Fed in Washington, Greenspan probed their differences.?Well, Brooksley, I guess you and I will never agree about fraud,? Born, in a recent interview, remembers Greenspan saying.?What is there not to agree on?? Born says she replied.?Well, you probably will always believe there should be laws against fraud, and I don?t think there is any need for a law against fraud,? she recalls...continue to full post

Full post as published by Judging Crimes on January 16, 2010 (boomark / email).