quote:

When Lehman Brothers filed for bankruptcy in the fall of 2008, jolting an already ailing global economy into near-freefall, the whole world was in shock. But one woman could legitimately have claimed she saw it coming.

The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. It's also, more broadly, an account of how systemic bias and prejudice created the conditions for a dangerous breed of groupthink to thrive with ultimately disastrous consequences. Understanding what went wrong back then can teach us an important lesson about managing risks in the future: Every voice in the room is worth hearing, even if — and perhaps especially if — the message is inconvenient.

quote:

Originally posted by Steve Miller:
You know who else predicted the Great Recession pretty much to the day?

Bongwater Q. Liberalstein!