Archive for Tuesday, October 20, 2009
A prophet of dark profits on ‘Frontline’
October 20, 2009
Advertisement
“Frontline” (8 p.m., PBS, check local listings) producer Michael Kirk has found a great human-interest story at the heart of the financial meltdown and profiles several villains of the swindle whose names do not include “George,” “W.” or “Bush.”
A political nobody in charge of a miniscule agency, lawyer Brooksley Born headed the obscure Commodity Futures Trading Commission (CFTC) during the Clinton administration. As early as 1993, she warned of the dangers of the unregulated derivatives market, a Wild West of private deals conducted largely in secret.
Her efforts to rein in this furtive market earned her the wrath and official rebuke of Fed Chairman Alan Green-span, Treasury Secretary Robert Rubin and Clinton adviser Larry Summers, three men dubbed “The Committee to Save the World” on the cover of Time magazine who all believed that free markets would police themselves.
The documentary shows how Born spent her whole life fighting male condescension. Her father had so wanted a boy that he named her after his best friend, Brook. She became the first female to head the Stanford Law Review, but the faculty didn’t think she could handle it. Briefly considered for attorney general, she was overlooked because Bill Clinton found her “boring.”
But in 1998, Born was proven right when the hedge fund Long Term Capital Management exploded and almost brought down the world economy. And by 2008, derivatives were at the heart of the financial system, and its precipitous collapse.
A story as old as Homer’s tale of the unheeded prophet Cassandra, with a little contemporary feminism thrown in, this “Frontline” is not to be missed.
• Sports filmmakers love a dead league. Films about the AFL and ABA abound. Now filmmaker Mike Tollin presents “Small Potatoes: Who Killed the USFL?” (7 p.m., ESPN). Tollin is a tad close to his subject, having worked for the short-lived football league during the 1980s.
He makes a strong case for its survival, citing exciting players, classic games, good attendance and decent TV ratings. He also profiles some of the characters involved in USFL team ownership, most notably Donald Trump.
Some here contend that Trump bought the New Jersey Generals football franchise only to make his way onto the sports pages of New York’s tabloids and dumped the league like a broken toy once he was ensconced on the front pages.
The league, and this film, end with an acrimonious suit against the NFL, accused of violating antitrust laws (remember them?) in their efforts to stifle the infant organization. The legal wrangling includes footage of Trump with his legal representative — the notorious lawyer and political fixer Roy Cohn — a clip more than worth the price of admission.
Tonight’s other highlights
• The Yankees and Angels meet in Game 4 of the ALCS (6:30 p.m., Fox).
• “Nova” (7 p.m., PBS, check local listings) explores the world of exotic monitor lizards.
• A defense contractor, bearing secrets, expires on “NCIS: Los Angeles” (8 p.m., CBS).
• Part 3 of “Monty Python: Almost the Truth” (8 p.m., IFC) recalls fights with censors.
• Alicia takes on a company that blames its victims on “The Good Wife” (9 p.m., CBS).
• A vacation proves to be a victim’s last getaway on “The Forgotten” (9 p.m., ABC).
Top ads RSS
Marketplace
Arts & Entertainment · Bars · Theatres · Restaurants · Coffeehouses · Libraries · Antiques · Services
- Turbine manufacturer passes on Lawrence site November 24, 2009 · 86 comments
- Former KU Chancellor Laurence Chalmers dies November 25, 2009 · 23 comments
- Poll: Which sport do you watch most during Thanksgiving weekend? November 25, 2009 · 7 comments
- Obama to promise 17% cuts in U.S. emissions in next decade November 26, 2009 · 36 comments
- Two treated at hospital after fight outside Cadillac Ranch November 26, 2009 · 24 comments
- On the street: Which do you prefer, white meat or dark meat? November 26, 2009 · 26 comments
- Quiet revolution taking place in America November 25, 2009 · 126 comments
- Blog: How Has Obama's Stimulus Helped You? November 21, 2009 · 77 comments
- Douglas County Chief Judge says it's likely 12 days of furloughs will be needed next year for court employees November 25, 2009 · 24 comments
- At Fambrough’s urging, fans show support for KU football November 26, 2009 · 24 comments
- At Fambrough’s urging, fans show support for KU football November 26, 2009
- Former KU Chancellor Laurence Chalmers dies November 25, 2009
- Extraordinarily grateful November 26, 2009
- Heeding heart attack’s message November 26, 2009
- Pie Lady makes holidays sweeter November 26, 2009
- Double Take: Parent considers home drug testing November 24, 2009
- Kansas Legislature likely to debate judicial nomination process in 2010 session November 25, 2009
- Controversial film gives voice to our invisible children November 26, 2009
- Pound by Pound: Danny Pound confronts his 'existential angst,' emerges with intimate second solo album November 26, 2009
- Open letter to Kansas School Board August 23, 2005


Post a comment
Requires free LJWorld.com registration. Register or log in below.
Read our full policy. Also, read about banned accounts and harassing comments.
Post a blog entry
You have to be logged in to blog on LJWorld.com. Please log in or sign up.
Learn more about blogging on LJWorld.com.