The Regulator Who Saw The Crisis Coming: How Brooksley Born Faced Wall Street's Wrath in Warning of Looming Derivatives Dangers

Born saw risks in the rapidly expanding derivatives market and tried to regulate it, but faced pushback from Wall Street and government.

As CFTC chair, Born warned the unregulated over-the-counter derivatives market could pose risks, but Greenspan, Rubin and others ignored her.

Born circulated a concept release on regulating derivatives, triggering a "firestorm of opposition" from Wall Street and government officials.

Congress barred the CFTC from regulating over-the-counter derivatives for 6 months in response to Born's efforts.

The financial crisis proved Born right, as unregulated derivatives exacerbated the mortgage crisis and broader meltdown.