prompt_front: Now, answer the following question based on the text below, only give me the answer and do not output any other words.

Question: When did the 2017 general election be held?

Read the following text and answer briefly.

Context 1: Sir Simon William English  (born 30 December 1961) is a New Zealand former National Party politician who served as the 39th prime minister of New Zealand from 2016 to 2017  He had previously served as the 17th deputy prime minister of New Zealand and minister of finance from 2008 to 2016 under John Key and the Fifth National Government 

A farmer and public servant before entering politics, English was elected to the New Zealand Parliament in  as the National Party's candidate in the Wallace electorate  He was elevated to Cabinet in 1996 and in 1999 was made minister of finance, although he served for less than a year due to his party's loss at the 1999 general election  In October 2001, English replaced Jenny Shipley as the leader of the National Party (and consequently as Leader of the Opposition)  He led the party to its worst defeat at the 2002 general election, and as a consequence, in October 2003 he was replaced as leader by Don Brash 

In November 2006, after Brash's resignation, English became deputy leader under John Key  After National's victory at the 2008 general election, he became deputy prime minister and was also made minister of finance for the second time  Under English's direction New Zealand's economy maintained steady growth during National's three terms of government  He became a list-only MP after stepping down as an electorate MP at the 2014 general election 

John Key resigned as leader of the National Party and prime minister in December 2016  English won the resulting leadership election unopposed and was sworn in as prime minister on 12 December 2016  His tenure was only ten months, and included a three-month election campaign  In the 2017 general election, National won the largest number of seats but fell short of a majority  The parties holding the balance of power declined to support the existing government, and English was subsequently replaced as prime minister by Jacinda Ardern, leader of the Labour Party  English initially continued on as Leader of the Opposition, but resigned as leader of the National Party on 27 February 2018 and left parliament two weeks later 

Early life
English was born on 30 December 1961 at Lumsden Maternity Centre in Lumsden  He is the eleventh of twelve children of Mervyn English and Norah (née O'Brien) English  His parents purchased Rosedale, a mixed sheep and cropping farm in Dipton, Southland from Mervyn's uncle, Vincent English, a bachelor, in 1944  English was born in the maternity unit at Lumsden 

English attended St Thomas's School in Winton, then boarded at St  Patrick's College in Upper Hutt, where he became head boy  He played in the first XV of the school's rugby team  English went on to study commerce at the University of Otago, where he was a resident at Selwyn College, and then completed an honours degree in English literature at Victoria University of Wellington 

After finishing his studies, English returned to Dipton and farmed for a few years  From 1987 to 1989, he worked in Wellington as a policy analyst for the New Zealand Treasury, at a time when the free market policies favoured by Labour's finance minister Roger Douglas (known collectively as "Rogernomics") were being implemented 

English joined the National Party in 1980, while at Victoria University  He served for a period as chairman of the Southland branch of the Young Nationals, and became a member of the Wallace electorate committee  After moving to Wellington, he served for periods on the Island Bay and Miramar electorate committees, respectively 

Fourth National Government (1990–1999)

At the 1990 general election, English stood as the National candidate in Wallace, replacing the retiring Derek Angus, and was elected with a large majority  He would hold this seat, renamed Clutha-Southland in 1996, until 2014  He and three other newly elected National MPs (Tony Ryall, Nick Smith, and Roger Sowry) were soon identified as rising stars in New Zealand politics, and at various points were dubbed the "brat pack", the "gang of four", and the "young Turks"  In his first term in parliament, English chaired a select committee into social services  He was made a parliamentary under-secretary in 1993, serving under the Minister of Health 

First period in cabinet (1996–1999)
In early 1996, English was elevated to cabinet by Prime Minister Jim Bolger, becoming the Minister for Crown Health Enterprises and Associate Minister of Education (to Wyatt Creech)  He was 34 at the time, becoming the cabinet's youngest member  After the 1996 general election, the National Party was forced into a coalition with New Zealand First to retain government  In the resulting cabinet reshuffle, English emerged as Minister of Health  However, as a condition of the coalition agreement, NZ First's Neil Kirton (a first-term MP) was made Associate Minister of Health, effectively becoming English's deputy  This arrangement was described in the press as a "shotgun marriage", and there were frequent differences of opinion between the two ministers  After their relationship became unworkable, Kirton was sacked from the role in August 1997, with the agreement of NZ First leader Winston Peters 

As Minister of Health, English was responsible for continuing the reforms to the public health system that National had begun after the 1990 general election  The reforms were unpopular, and health was perceived as one of the government's weaknesses, with the health portfolio consequently being viewed as a challenge  English believed that the unpopularity of the reforms was in part due to a failure in messaging, and encouraged his National colleagues to avoid bureaucratic and money-focused language (such as references to "balance sheets" and "user charges") and instead talk about the improvements to services the government's reforms would bring  He also rejected the idea that public hospitals could be run as commercial enterprises, a view which some of his colleagues had previously promoted 

By early 1997, as dissatisfaction with Bolger's leadership began to grow, English was being touted as a potential successor, along with Jenny Shipley and Doug Graham  His age (35) was viewed as the main impediment to a successful leadership run  National's leadership troubles were resolved in December 1997, when Bolger resigned and Shipley was elected to the leadership unopposed  English had been a supporter of Bolger as leader, but Shipley reappointed him Minister of Health in her new cabinet 

English was promoted to Minister of Finance in a reshuffle in January 1999, a position which was at the time subordinate to the Treasurer, Bill Birch  After a few months, the pair switched positions as part of Birch's transition to retirement, with English assuming the senior portfolio  In early interviews, he emphasised his wish to be seen as a pragmatist rather than an ideologue, and said that the initiatives of some of his predecessors (Roger Douglas's "Rogernomics" and Ruth Richardson's "Ruthanasia") had focused on "fruitless, theoretical debates" when "people just want to see problems solved" 

Opposition (1999–2008)

After the National Party lost the 1999 election to Helen Clark's Labour Party, English continued on in the shadow cabinet as National's spokesperson for finance  He was elected deputy leader of the party in February 2001, following the resignation of Wyatt Creech, with Gerry Brownlee being his unsuccessful opponent 

Leader of the Opposition
In October 2001, after months of speculation, Jenny Shipley resigned as leader of the National Party after being told she no longer had the support of the party caucus  English was elected as her replacement unopposed (with Roger Sowry as his deputy), and consequently became Leader of the Opposition  However, he did not openly organise against Shipley, and according to The Southland Times "there was almost an element of 'aw, shucks, I'll do it then' about Mr English's ascension" 

Aged 39 when he was elected, English became the second-youngest leader in the National Party's history, after Jim McLay (who was 38 when elected in 1984)  He also became only the third Southlander to lead a major New Zealand political party, after Joseph Ward and Adam Hamilton  However, English failed to improve the party's performance  In the 2002 election, National suffered its worst electoral defeat ever, gaining barely more than twenty percent of the vote  English described it as "the worst day of my political life"  Both party insiders and the general public were split as to how much to blame him for the loss, but most of the party believed that English would be able to rebuild National's support 

By late 2003, however, National's performance in opinion polls remained poor  The party had briefly increased its popularity in the year following the election, but by October its support had fallen to levels only slightly better than what it achieved in the last ballot  English also appeared in a boxing match for a charity against entertainer Ted Clarke  This did not boost his polling or that of the National party either, with suggestions that it devalued his image as a serious politician  Don Brash, former governor of the Reserve Bank and a relative newcomer to politics, began to build up support to replace English  On 28 October, Brash gained sufficient backing in Caucus to defeat English in a leadership contest 

Shadow cabinet roles and deputy leader
On 2 November 2003, when Brash changed responsibilities for certain MPs, English became National's spokesman for education, ranked at fifth place in the party's parliamentary hierarchy  He remained in parliament after the 2005 election  In his new shadow education portfolio, English performed strongly, and remained a party favourite despite his election defeat as leader in 2002, eventually being returned to the finance portfolio in August 2004 as deputy spokesman (while still retaining responsibility for education) 

In November 2006, Brash resigned as leader  English was considered as a potential replacement leader (running against John Key) or deputy leader (against incumbent Gerry Brownlee) in the ensuing leadership election  However, a contest was avoided when the MPs agreed a Key/English ticket would run unopposed in a display of party unity  English took over the deputy leadership and the finance portfolio in the Key shadow cabinet 

Fifth National Government (2008–2017)

Deputy Prime Minister and Minister of Finance (2008–2016)

At the 2008 election, English was re-elected by his electorate, winning by a margin of about 15,500 votes  He became Deputy Prime Minister of New Zealand and Minister of Finance in the fifth National Government, being sworn into office on 19 November 2008 and continued to serve in those roles until becoming Prime Minister on 12 December 2014  He was also made Minister of Infrastructure in National's first term of government and Minister responsible for Housing New Zealand Corporation and minister responsible for the New Zealand flag consideration process in its third 

He was comfortably re-elected in Clutha-Southland in the 2011 election but opted to run as a party-list candidate in 2014  

The pairing of John Key as leader of the National Party and English as his deputy has been compared to that of Bob Hawke and Paul Keating (in Australia) and Tony Blair and Gordon Brown (in the UK) 

English acceded to the role of Finance Minister in the continuing wake of the financial crisis  In response to New Zealand's rising debt, English made budget deficit-reduction his main priority  His first budget outlined three focuses in New Zealand's financial recovery: "improving the business environment and removing roadblocks to growth; investment in productive infrastructure; and improving the way government works"  One of his first acts was creating the National Infrastructure Unit, charged with formulating a plan for infrastructure projects and investments  He commissioned a government-wide spending review, with an aim to reducing government expenditure—with the exceptions of a two-year stimulus package and long-term increases on infrastructure spending 

In April 2011, the Opposition criticised English for suggesting that New Zealand businesses could use New Zealand's low wages to help it compete with Australia  The National Government campaigned for re-election in 2011 on its economic record  The Government boasted growth for five consecutive quarters up to mid-2010, totalling 1 6% of real GDP 

Strong growth resulted in a surplus of $473 million for the 2015/16 financial year, projected to rise to $8 5 billion by 2020/21  In his 2016 Economic and Fiscal Update address, English stated that reducing debt and tackling the costs of the 2016 Kaikōura earthquake were higher priorities than reducing rates of tax 

Allowances issue
In 2009, the media, including TVNZ and TV3 revealed that English was receiving about NZ$900 a week as part of a living allowance for ministers, to live in his own NZ$1 2 million Wellington home  At the time, English also received $276,200 in his annual salary as Deputy Prime Minister  It was also revealed other ministers with homes in the capital city were also claiming accommodation allowances  On 3 August 2009, Prime Minister John Key started a review of the housing allowances claimed by cabinet ministers  English subsequently paid back $12,000 and only claimed about $24,000 a year in living allowances  The Auditor-General's office said in September 2009 that they were making "preliminary enquiries" into parliamentary housing expenses in response to a letter of complaint from Progressive party leader Jim Anderton  Two days later English stated that he would no longer take up any housing allowance and had paid back all the allowance he had received since the November 2008 election 

Prime Minister (2016–2017)

John Key resigned on 12 December, and endorsed English as his successor in the resulting leadership election  Following the drop-out of both Judith Collins and Jonathan Coleman from the leadership election, English was sworn in as the 39th Prime Minister of New Zealand on 12 December 2016 

English appointed his first cabinet on 18 December  In a reshuffle, he appointed Steven Joyce to succeed him as Finance Minister, while most ministerial portfolios remained the same 

In February 2017, English did not attend Waitangi Day commemorations at the historic treaty grounds, reportedly in response to the Ngāpuhi iwi's decision to stop the Prime Minister from speaking at the marae  Ngāpuhi have protested the Government's negotiation of the Trans Pacific Partnership Agreement (TPPA), which the iwi believe infringes upon Māori sovereignty, and thus does not adhere to the Treaty of Waitangi  English had been invited to attend in an official capacity; his non-attendance was criticised by a Ngāpuhi elder and Opposition leader Andrew Little 

In his first overseas trip as Prime Minister, English travelled to Europe to discuss trade ties, including a prospective New Zealand–European Union free trade agreement  He first travelled to London on 13 January 2017 to meet British Prime Minister Theresa May  Discussing trade relations, English said the two nations were "natural partners" and would "continue to forge ties" after the UK's withdrawal from the EU  He also arranged to meet with London Mayor Sadiq Khan, Belgian Prime Minister Charles Michel and German Chancellor Angela Merkel   In a meeting with Merkel, English received crucial backing from Germany for a trade deal with the EU  On 16 January, English stated that his government would continue to promote TPPA, despite the United States' decision to withdraw from the agreement  He explained that Southeast Asian countries would now be treated as a priority in negotiations—he also asserted that the United States was ceding influence to China by its rejection of the trade pact 

At a press conference at the Beehive on 1 February 2017, English announced that the 2017 general election would be held on 23 September  The Prime Minister later confirmed that his party would approach ACT, United Future and the Māori Party if confidence and supply agreements were required to form a government following the election  In his second cabinet reshuffle on 24 April, English appointed Gerry Brownlee as his new Foreign Affairs Minister; he also promoted Nikki Kaye to the portfolio of Education Minister, and moved Mark Mitchell into the cabinet to become Defence Minister  The reshuffle was perceived as an election preparation 

On 13 February 2017, English welcomed Australian Prime Minister Malcolm Turnbull to Wellington  The two leaders reaffirmed their shared trade agenda, and discussed changes to the Australian citizenship pathway which will affect permanent residents originating from New Zealand 

On 19 June, it was reported that Todd Barclay, who succeeded English as MP for Clutha-Southland, had clandestinely recorded one of his employee's conversations the previous year, and that John Key's leaders' budget was used to pay a confidential settlement after the employee resigned  English admitted that he had been aware of the illegal recording and the settlement, and thus implicated in the scandal 

During the 2017 National campaign launch, English introduced a $379 million social investment package including digital learning academies for high school students, more resources for mathematics, and boosting support for teaching second languages in schools, and maintaining National Standards in the school curriculum  Prime Minister English also sought to defend National's financial management and economic track record and claimed that the opposition Labour Party would raise taxes  Early opinion polling had forecast a poor showing in the election for the Labour Party, but in early August 37-year-old Jacinda Ardern took over as Labour leader and seemingly energised younger voters 

At the 2017 general election, National won the largest share of the party vote (44 4%) and the largest number of seats (56) in the House Representatives  However, National lacked enough seats to govern alone due to two of the party's support partners, the Māori Party and United Future, losing their parliamentary seats  In response, English stated that the party would be entering into talks to form a coalition with New Zealand First  Following talks with the two largest parties, New Zealand First entered a coalition arrangement with the Labour Party  English was succeeded as prime minister by Jacinda Ardern on 26 October 

Opposition (2017–2018)

Leader of the Opposition
English was re-elected as National Party leader on 24 October 2017  At the time of his re-election, English announced his intention to stay on as leader until the next general election  On 13 February 2018, however, he stood down as National Party leader due to personal reasons, and instructed the party to put into motion the processes to elect a new leader  He also retired from Parliament  English's resignation followed weeks of speculation that he would step aside for a new leader  On 27 February, he was succeeded as party leader by Simon Bridges as the result of the leadership election held that day 

Post-premiership 
In 2018, English joined the board of Australian conglomerate, Wesfarmers  English serves in Chairmanships of Mount Cook Alpine Salmon, Impact Lab Ltd and Manawanui Support Ltd  He is also a director of The Instillery, Centre for Independent Studies and The Todd Corporation Limited, and is a member of the Impact Advisory Group of Macquarie Infrastructure and Real Assets 

Political and social views

English is regarded as more socially conservative than his predecessor, John Key  He has stated his opposition to voluntary euthanasia and physician-assisted suicide, same-sex civil unions, and the decriminalisation of prostitution  As Prime Minister he opposed any "liberalisation" of abortion law 

In 2004, English voted against a bill to establish civil unions for both same-sex and opposite-sex couples  In 2005, he voted for the Marriage (Gender Clarification) Amendment Bill, which would have amended the Marriage Act to define marriage as only between a man and a woman  English voted against the Marriage (Definition of Marriage) Amendment Bill, a bill that legalised same-sex marriage in New Zealand  However, in December 2016 he stated, "I'd probably vote differently now on the gay marriage issue  I don't think that gay marriage is a threat to anyone else's marriage" 

In 2009, English voted against the Misuse of Drugs (Medicinal Cannabis) Amendment Bill, a bill aimed at amending the Misuse of Drugs Act so that cannabis could be used for medical purposes 

Personal life 
English met his future wife, Mary Scanlon, at university  She was studying medicine at the time, and became a general practitioner  Both her parents were immigrants, her father being Samoan and her mother Italian, born on the island of Stromboli  They have six children: a daughter and five sons 

English is a practising Roman Catholic, but has stated that he considers his religious beliefs personal and thus separate from politics 

In June 2002, English took part in TV3's Fight For Life, a celebrity boxing fundraiser to raise money for the Yellow Ribbon anti-youth-suicide campaign, influenced by the death of a teenage nephew in 1997  He lost a split decision to former university colleague Ted Clarke 

Honours
In the 2018 Queen's Birthday Honours, English was appointed a Knight Companion of the New Zealand Order of Merit, for services of over 27 years to the State 
Context 2: Brooksley Elizabeth Born (born August 27, 1940) is an American attorney and former public official who, from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the U S  futures and commodity options markets  During her tenure on the CFTC, Born lobbied Congress and the President to give the CFTC oversight of off-exchange markets for derivatives, in addition to its role with respect to exchange-traded derivatives, but her warnings were ignored or dismissed, and her calls for reform resisted by other regulators <ref name="nytimes">Goodman, Peter S  The Reckoning - Taking Hard New Look at a Greenspan Legacy, The New York Times, October 9, 2008 </ref> Born resigned as chairperson on June 1, 1999, shortly after Congress passed legislation prohibiting her agency from regulating derivatives 

In 2009, Born received the John F  Kennedy Profiles in Courage Award, along with Sheila Bair of the Federal Deposit Insurance Corporation, in recognition of the "political courage she demonstrated in sounding early warnings about conditions that contributed" to the 2007-08 financial crisis 

Early life and education
Born graduated from Abraham Lincoln High School (San Francisco, California) at the age of 16  She then attended Stanford University, where she majored in English and was graduated with the class of 1961   She initially wanted to become a doctor, but a guidance counsellor at Stanford advised her against medicine, so she majored in English literature instead 

She then attended Stanford Law School, one of only seven women in her class   She was the first female student ever to be named president of the Stanford Law Review  She received the "Outstanding Senior" award and graduated as valedictorian of the class of 1964 

Legal career
Immediately after law school Born was selected as a law clerk to judge Henry Edgerton of the U S  Court of Appeals for the District of Columbia Circuit  It was during this time that she met her first husband, Jacob C  Landau, who was a journalist covering the Federal courts at the time  Following her clerkship, she became an associate at the Washington, D C -based international law firm of Arnold & Porter  Born was attracted to Arnold & Porter because it was one of the few major law firms to have a woman partner at that time, Carolyn Agger, who was the head of the tax practice  Born took a two-year leave of absence from Arnold & Porter to accompany her first husband to Boston, where he had received a fellowship  During that time she worked as a research assistant to law professor Alan Dershowitz 

Born's early career at Arnold & Porter focused on international trade law, in which she represented a number of Swiss industries and the government of Switzerland  She developed a practice representing clients in numerous complex litigation and arbitration cases involving financial market transactions  Among her high-profile cases was the matter of the Hunt Brothers attempt to corner the market in silver in the 1970s  She made partner at Arnold & Porter, after moving to a three-day schedule to help raise her second child, and eventually rose to be the head of the firm's derivatives practice 

Born was among the first female attorneys to systematically address inequities regarding how the laws treated women  Born and another female lawyer, Marna Tucker, taught what is considered to have been the first "Women and the Law" course at Catholic University’s Columbus School of Law  The class exclusively concerned prejudicial treatment of women under the laws of the United States, past and present   Born and Tucker were surprised to discover that there was no textbook on the issue at the time   Born is also one of the co-founders of the National Women's Law Center  Born also helped rewrite the American Bar Association rules to make it possible for more women and minorities to sit on federal bench 

During her long legal career, and into her retirement, Born did much pro bono and other types of volunteer work  She was active in the American Bar Association, the largest professional organization of lawyers in the United States   Initially Born was named a member of the governing council of the ABA's Individual Rights Section, eventually becoming chairperson   Born and Tucker founded the ABA Women's Caucus, the first organization of female lawyers in the ABA   She held several other senior positions in the ABA, including being named the first woman member of the ABA's Standing Committee on the Federal Judiciary   As a member of the Judiciary Committee, Born provided testimony and opinion on persons nominated for federal judgeships  In 1980 she was named chair of the committee   As chair of the committee, Born was invited to address the U S  Congress regarding the nomination of Judge Sandra Day O'Connor to the U S  Supreme Court 

In 1993, Born's name was floated as a possible candidate for Attorney General of the United States, but Janet Reno was nominated 

In July 2009, Nancy Pelosi appointed Brooksley Born as a commissioner to the Financial Crisis Inquiry Commission (FCIC) 

Born and the OTC derivatives market
Born was appointed to the CFTC on April 15, 1994, by President Bill Clinton  Due to litigation against Bankers Trust Company by Procter and Gamble and other corporate clients, Born and her team at the CFTC sought comments on the regulation of over-the-counter derivatives, a first step in the process of writing CFTC regulations to supplement the existing regulations of the Federal Reserve System,  the Options Clearing Corporation, and the National Association of Insurance Commissioners  Born was particularly concerned about swaps, financial instruments that are traded over the counter between banks, insurance companies or other funds or companies, and thus have no transparency except to the two counterparties and the counterparties' regulators, if any   CFTC regulation was strenuously opposed by Federal Reserve chairman Alan Greenspan, and by Treasury Secretaries Robert Rubin and Lawrence Summers



ground_truth: 23 September.

prompt_front: Now, answer the following question based on the text below, only give me the answer and do not output any other words.

Question: What hedge fund's collapse in 1998 highlighted the need for regulation of derivatives?

Read the following text and answer briefly.

Context 2:  On May 7, 1998, former SEC Chairman Arthur Levitt joined Rubin and Greenspan in objecting to the issuance of the CFTC's concept release  Their response dismissed Born's analysis and focused on the hypothetical possibility that CFTC regulation of swaps and other OTC derivative instruments could create a "legal uncertainty" regarding such financial instruments,  hypothetically reducing the value of the instruments  They argued that the imposition of regulatory costs would "stifle financial innovation" and encourage financial capital to transfer its  transactions offshore  The disagreement between Born and the Executive Office's top economic policy advisors has been described not only as a classic Washington turf war, but also a war of ideologies,  insofar as it is possible to argue that Born's actions were consistent with Keynesian and neoclassical economics while Greenspan, Rubin, Levitt, and Summers consistently espoused neoliberal, and neoconservative policies 

In 1998, a trillion-dollar hedge fund called Long Term Capital Management (LTCM) was near collapse   Using mathematical models to calculate debt risk, LTCM used derivatives to leverage $5 billion into more than $1 trillion, doing business with fifteen of Wall Street's largest financial institutions   The derivative transactions were not regulated, nor were investors able to evaluate LTCM's exposures   Born stated, "I thought that LTCM was exactly what I had been worried about"   In the last weekend of September 1998, the President's working group was told that the entire American economy hung in the balance   After intervention by the Federal Reserve, the crisis was averted   In congressional hearings into the crisis, Greenspan acknowledged that language had been introduced into an agriculture bill that would prevent CFTC from regulating the derivatives which were at the center of the crisis that threatened the US economy   U S  Representative Maurice Hinchey (D-NY) asked "How many more failures do you think we'd have to have before some regulation in this area might be appropriate?"  In response, Greenspan brushed aside the substance of Born's warnings with the simple assertion that "the degree of supervision of regulation of the over-the-counter derivatives market is quite adequate to maintain a degree of stability in the system"  Born's warning was that there wasn't any regulation of them   Born's chief of staff, Michael Greenberger summed up Greenspan's position this way: "Greenspan didn't believe that fraud was something that needed to be enforced, and he assumed she probably did  And of course, she did "  Under heavy pressure from the financial lobby, legislation prohibiting regulation of derivatives by Born's agency was passed by the Congress   Born resigned on June 1, 1999 

The derivatives market continued to grow yearly throughout both terms of George W  Bush's administration  On September 15, 2008, the bankruptcy of Lehman Brothers forced a broad recognition of a financial crisis in both the US and world capital markets   As Lehman Brothers' failure temporarily reduced financial capital's confidence, a number of newspaper articles and television programs suggested that the failure's possible causes included the conflict between the CFTC and the other regulators Faiola, Anthony, Nakashima, Ellen and Drew, Jill  The Crash: Risk and Regulation - What Went Wrong, The Washington Post, October 15, 2008 

Born declined to publicly comment on the unfolding 2008 crisis until March 2009, when she said: "The market grew so enormously, with so little oversight and regulation, that it made the financial crisis much deeper and more pervasive than it otherwise would have been " She also lamented the influence of Wall Street lobbyists on the process and the refusal of regulators to discuss even modest reforms 

An October 2009 Frontline documentary titled "The Warning"  described Born's thwarted efforts to regulate and bring transparency to the derivatives market, and the continuing opposition thereto  The program concluded with an excerpted interview with Born sounding another warning: "I think we will have continuing danger from these markets and that we will have repeats of the financial crisis -- may differ in details but there will be significant financial downturns and disasters attributed to this regulatory gap, over and over, until we learn from experience "

In 2009 Born, along with Sheila Bair of the FDIC, was awarded the John F  Kennedy Profiles in Courage Award in recognition of the "political courage she demonstrated in sounding early warnings about conditions that contributed" to the 2007-08 financial crisis   According to Caroline Kennedy, "Brooksley Born recognized that the financial security of all Americans was being put at risk by the greed, negligence and opposition of  powerful and well connected interests     The catastrophic financial events of recent months have  proved them [Born and Sheila Bair] right "  One member of the President's working group had a change of heart about Brooksley Born   SEC Chairman Arthur Levitt stated "I've come to know her as one of the most capable, dedicated, intelligent and committed public servants that I have ever come to know", adding that "I could have done much better  I could have made a difference" in response to her warnings 

In 2010, a documentary film Inside Job further alleged that derivatives regulation was ineffective from the Clinton administration on  Along with fellow whistleblower, former IMF Chief Economist Raghuram Rajan, who was also scorned by the economic establishment, Brooksley Born was cited as one of the authorities arguing that financial derivatives increase economic risk 

 Personal life 
Born is married to Alexander E  Bennett (also retired from Arnold & Porter)   She has five adult children - two from a previous marriage to Jacob Landau and three stepchildren  Notably, Born was named a partner at Arnold & Porter while working part-time so she could raise her two young children   When both of her children were school-age, Born returned to practice full-time 

References

External links
Attorney profile at Arnold & Porter
Brooksley Born (2009 Winner) of the Profiles in Courage Award, with acceptance speech transcript and NECN video

Profile at MarketsWiki
Speeches and statements
"Testimony Of Brooksley Born Chairperson of the CFTC Concerning The Over-The-Counter Derivatives Market", before the House Committee On Banking And Financial Services, July 24, 1998 
"The Lessons of Long Term Capital Management L P ", Remarks of Brooksley Born, Chairperson of the CFTC, Chicago-Kent-IIT Commodities Law Institute, Chicago, Illinois, October 15, 1998 
 Interview: Brooksley Born for "PBS Frontline: The Warning", PBS, (streaming VIDEO 1 hour), October 20, 2009 
Articles
Manuel Roig-Franzia  "Credit Crisis Cassandra:Brooksley Born's Unheeded Warning Is a Rueful Echo 10 Years On", The Washington Post, May 26, 2009
 Taibbi, Matt  "The Great American Bubble Machine", Rolling Stone'', July 9–23, 2009

1940 births
American women lawyers
Arnold & Porter people
Clinton administration personnel
Columbus School of Law faculty
Commodity Futures Trading Commission personnel
Heads of United States federal agencies
Lawyers from San Francisco
Living people
Stanford Law School alumni
21st-century American women

Context 3: Probably one of the most frustrating things about building experimental aircraft, especially when starting with a minimum of pre-fabricated parts, is to start building and ending up with an unexpected result  Every builder starts a new project by wanting it to go "perfectly " So when things aren't going well, especially at the beginning, the frustration can lead to an unfinished airplane 
This is the first article in a series dedicated to helping builders of the Rand Robinson KR series planes build a straight and true fuselage -- the first part of the construction process  Borrowing from modern boatbuliding techniques, focus will be on the KR-2S, but the principles apply to the entire lineup of KR-1 & KR-2 series planes 
While building the KR-2(s) a common surprise is encountered by builders when the completed fuselage sides are laid into position to form the fuselage box section  With many hours spent building the sides flat, finding the once straight longerons that now bow up from the building surface, form a most dissatisfying "banana" shape  Especially when using the preformed fiberglass parts, this curve in the top longeron is not acceptable  The builder is left wondering what went wrong and no amount of clamping or brute force forming will solve the problem to any degree of satisfaction  The problem is not the builder's fault  The solution starts by understanding the three dimensional relationship of the assembled parts being built 
First understand that the plans show the finished form of the plane  They show the "projected" form as you would expect to see it if viewing an actual plane from the top, ends and from the side  Since the sides are sloped (flared) outward, looking from the side, the distances given by measuring the profile drawing are "foreshortened" and don't give the proper shape for building the fuselage with a flat top longeron  What needs to be done is to "develop" the "true" distances and shape of the flat panel so that when it is curved into position, the longerons lay flat 
Second, understand that the dimensions called for in the plans put a twist in the sides that tends to work the panel in two directions of curvature  This twist makes the panel "undevelopable" meaning that that shape cannot be unrolled into an equivalent flat shape  This is important when laying out the side and bottom panels onto flat plywood  To illustrate this, try forming a piece of paper around a soda can  The paper can be formed flat around the can either straight or at a diagonal to it's length  It has only one direction of curvature and is by definition "developable"  Now try to form the same piece of paper around a baseball  It won't lie flat on the surface without some deformation (folding, wrinkling or tearing) of the paper  The ball has curvature in more that one direction and is a "compounded" shape  Paper (or plywood) can only be readily formed in developable shapes as opposed to aluminum or other metal which can accept in plane deformation  A developable surface is needed to lay out a curved surface when the materials used can't be deformed with any degree of in-plane strain 
Initially, the fuselage sides are laid out flat with reference to the top longeron measured to a straight chalk line  The bowing problem starts when the side panels are bent and sloped to form the fuselage box section  If the sides were not sloped (tumbled home), the section formed would be cylindrical and the longerons would lie flat  Since the sides are tumbled home, the section formed is now conical  When a conical shape is cut with a plane (building surface) not perpendicular to it's axis, the shape formed is elliptical -- exactly what happens with the top longeron  When it's built flat, bent to form a cylindrical section, and sloped to form a conical section, it takes on an elliptical shape firewall to tailstock 
This method borrows heavily from proven techniques used in the marine trades  It should be stressed at this point that although the layout procedure is not complicated, it is important to take your time  If the layout is not going well initially, start over! Better to erase layout errors now than to have them built it and cause surprises later 
Layout to ensure a fair and true fuselage starts by drawing a reference line (baseline) on the building surface  Refer to figures 2 & 3 and use a wire guide to draw a very straight baseline  About 500 lbs  Of tension should be adequate  One could use a chalk line, but we're talking airplanes here, not house framing 
The main layout difference is that the baseline isn't used as a reference for the top longeron  The baseline references the mid point of the firewall for the developed (and true dimensioned) side panel  Although the baseline will still be the reference, the top and bottom longerons will be laid separately 
Layout differences don't end there  Each of the stations (vertical members) will be laid out with a calculated separation so that when the panels are formed into position, they land on the spacing called for in the plans  Another major difference is that the bottom & side panels are applied after forming the fuselage box section  This is mainly to obtain the ability to "fair" the side and bottom surfaces and insure a straight and true shape 
Refer to figure 1 for the layout of the new developed side panel  The firewall (station a) is layed out perpendicular to the baseline  Longitudinal (station) measurements are given along the length of the baseline from the firewall  Vertical dimensions are given to reference the angle and breadths of the station at the baseline 
Notice that the top longeron is bowed outward and that the stations are spaced slightly greater than called out in the plans  When the panels are formed into the box frame section ,they will work into the dimensions specified in the plans 
Strike a centerline, longer than is needed on the building surface using a wire guide  Draw off the firewall line perpendicular to the centerline at one end 
Using the distances listed in the balloons, mark them off on the centerline  Distances are measured to the nearest sixteenth of an inch  Take time to mark them off carefully  Don't mark off the distances in a cumulative fashion  Use the firewall as a common reference 
Using the angles listed at each station, mark off a station line longer than is needed  The angles are measured to the nearest hundredth of a degree  Take time to mark them off carefully 
At each station, start by marking off each short (bottom longeron) line distance from the centerline  Use your set of trammels or beam compass for doing this  Mark the intersection of the short line with the station line 
At each station, mark off each long (top longeron) line distance from the intersection of the short line distance and the station line  Again the trammels or beam compass is best for completing this step  Mark the intersection of the long line distance with the station line 
Using the longeron as a batten, trace out the inside and outside curves of the longeron  After the batten is secure, in between each station, fasten a keeper block inside and outside to preserve the shape of the longeron taking care to avoid potential future interference with the diagonal members to be installed later  The fairing blocks can be removed or left in place if they won't interfere with building  The vertical station members and their diagonals can now be measured and positioned  Remember to refer to the plans for the material thickness direction 
After vertical and diagonal members are cut and fitted, take time to draw their outlines on the building surface to cut down on time and confusion when laying out the opposite side 
Finishing the side panel is accomplished in a manner similar to that called for in the handbook with the exception that the side and bottom skin panels will be attached later 
The next article in the series will discuss jigging and building techniques to ensure alignment and straightness of the flat built side panels  Also covered will be building a "strongback" jig to assure alignment of the side panels when they are formed into their final shape 
Part 3 in the series will cover assembly of the side panels using the jigs  Some joint details will be discussed that will ensure a stronger and more fair fuselage assembly  Also covered will be the layout & attachment of the side and bottom ply skins 
U S  Mail: Densmore Associates, inc 
ANSI "D" size, computer generated plots of all the layout drawings in this series are available from the author for $30 plus postage & handling  Full (true size) scale plots may be made available depending on demand 
"Scarfing" is the practice of splicing plywood so that short pieces of plywood can be used to span long distances  On the KR, it is required on both the fuselage skins and spar webs  The angle of the splice should be 10 to 12 degrees to maintain strength across the joint  Also, joints should coincide with structural members, such as spar webs or fuselage truss members 
This scarfer is made by mating a regular plunge router (this one costs about $50) to a table saw  Obviously, you really only need a table saw to cut the chamfer, but it does make a nice heavy table for scarfing  You could just as easily use a large work table as the base First, set the table saw for a 5 5 degree cut (for a 1:12 joint, or 6 5 degree cut for a 10:1 joint), and run a 1 x 6 through on edge to chamfer a corner on the board  Then drill the board for three router mounting holes (two are countersunk) and connect the assembly to the table saw with two 1/4 inch bolts  Use a long (2-3 inch) straight cutting bit to do the cutting  Adjust the bit so it doesn't interfere with your table top, and go to town  Keep pressure on the plywood to ensure contact with the table while you're scarfing  Make sure you feed your material from the same end as you would if you were sawing, or the router will take your plywood away from you and put a big dent in your garage door 
In the late 60's Ken Rand and Stuart Robinson were working as flight system engineers for Douglas Avionics  Ken was working as an electrical engineer, having previously worked for Sperry as an autopilots project engineer, while Stu's degree was in aeronautical engineering from Northrop University  They were two of the guys at the end of the DC-8,9, and 10 assembly lines responsible for correcting some of the nits and picks in various systems before delivery to the customer 
They both wanted to build a fast, inexpensive airplane which was also economical to maintain  Several designs were considered, and plans were bought first for the Jeanie's Teenie and then the Taylor Monoplane  The Monoplane was more to their liking, but would require some modification to fit their needs  A cooperative redesign effort ensued, with virtually no dimensions left untouched  Only the basic fuselage structure, airfoil, and powerplant were retained  The tail shape was Stu's, and came directly from the big DC-8s parked on the ramp outside his office window  The landing gear was designed by Ken, after seeing the gear on a Dewey Bird at Santa Paula airport 
Ken was killed in his KR2 a short time later while flying over Cajon Pass in what was apparently a bad weather / low fuel accident  Ken's wife Jeanette became owner of RR overnight, and stepped up to keep the plans and parts coming  Much of the engineering needs are handled by Bill Marcy of Denver, who's been helping out since early '79 
To date, almost 6000 KR1, 9200 KR2, and 760 KR2S plan sets have been sold  1200 KR2s are estimated to be flying, with 5 KR2Ss now in the air  Much of the development work done on KR's is now done by the builders themselves  KR builders tend to be innovative, which leads to some interesting modifications  Some of the mods that work eventually creep into the plans  The KR2S is a case in point  Many builders who'd heard of the pitch sensitivity and tight cabin of the KR2 began to build an enlarged version, with the length determined by the most commonly available longeron material  The result is a KR2 that is stretched 2" between firewall and main spar, and 14" behind the main spar  Higher gross weights dictated more wing area, with the new standard becoming the Diehl wing skin  Those who plan to carry passengers commonly stretch the cabin width a few inches, although 1 5 inches is the limit if you still want to use RR's premolded parts 
Mike Stearns addresses the KR Forum crowd 
This year's KR Forum featured guest speakers Mike Stearns, Steve Trentman, and Bill Marcey  Mike Stearns spoke on several topics, including the many sources for KR and homebuilding information available on the Internet  He also mentioned KRNet, the list server devoted entirely to KR aircraft, as well as several notable World Wide Web home pages  He also brought a sample of the new Rand Robinson wing skins with him, and discussed their high temperature core prepreg construction  His KR2S will receive the first set, which is currently being installed at Hinson Composites 
Steve Trentman spoke on his turbine installation  It uses a turbine engine which saw duty as an A7 attack jet starter engine  Total weight is about 85 pounds, while putting out around 90 horsepower  There is a small stockpile of these engines available from government surplus  sources  This engine can only be throttled back to 52% power, which leads to some pretty interesting landings  One inflight failure has been logged so far, with very little damage to the aircraft  More on this exciting development in next month's issue of KROnline 
Les Palmer's KR2 N202LP won Best KR2, Best Engine Installation, and People's Choice awards at the 1995 KR Gathering at Columbia, TN  After researching the KR series, and reading Neil Bingham's "A Critical Analysis of the KR2" (Jan 88 Sport Aviation), Les decided to build his as a single seater, stretched 24" in the tail, while maintaining a stock width firewall  His fuselage is made from Douglas fir, which weighs in at 4 lbs heavier than if constructed from spruce  It is skinned with 1/8" birch plywood  Spars are covered with plywoood on both fore and aft sides, ala KR2S  Diehl wing skins provide the lift  Horizontal stabilizer and elevator were stretched 7" longer on each side, while the vertical stabilizer and rudder were stretched 8" taller    The fuselage to cowling junction was made more graceful by adding 1 5 inches to the height of the firewall end of the fuselage sides 
Les's canopy is a Dragonfly, using a four linkage system to swing forward when opening  The canopy frame fits snugly into a recess in the foward deck, providing an excellent wind and water seal  The fiberglass work is exemplary 
Seating is luxurious for one 
The cowling is also a work of art, and uses NACA ducts for efficiency  Female molds were made for all the fiberglass parts on Les's plane, so he could proabably be persuaded to make more, if demand dictates  Les also machines a multitude of KR aluminum and steel parts which he now offers for sale 
The firewall was reinforced with aluminum brackets and angles bolted between the longerons in anticipation of the 200 lb Subaru EA-81 engine installation  His 100 HP Asian version is outfitted with an American Holley 5200 caburetor and manifold  It uses a PSRU of Les's own design, featuring two spur gears with a 1 69:1 reduction ratio and a toothed belt  Other than tapping the crank for larger bolts to mount the redrive, no other engine modifications were required  Also, this is probably the only air conditioned KR2 on the planet  The prop is a 60/63 Hegy 
Originally built as a taildragger, the fixed gear is made from 4130 steel tubing  Custom cast 6 00x6 aluminum wheels and steel rotors are mated with 6" Cleveland calipers for braking  An early taxi test accident damaged the main gear, and prompted Les to change to tricycle gear  Again, he designed his own fiberglass main gear, and uses a Diehl nose wheel fork with a 4130 strut and 6" wheel up front 
Early tests revealed cooling problems, which prompted a radiator move from the firewall to a lower cowling location 
The first flight was almost a disaster, as test pilot Randy Smith lost power right after takeoff  He managed a 180 with a safe downwind landing with only minor nosewheel pant damage  The culprit proved to be a spark plug with too much reach, which was quickly remedied  Subsequent flights have shown water temp to be about 210 degrees, oil temp is 220-230, and airspeed is about 180 mph 
Shopping for the Partially Built KR 
This story starts about twenty years ago when I first started looking at the KR-2 as the plane I'd like to build  The only problem at that time was a lack of money, lack of knowledge, and a lack of job stability  I liked the design, except for the low ground clearance of the retractable gear and that a KR was going to be a tight fit for me to fly 
Over the past twenty years I've owned a number of planes, but still always wanted to build my own  I needed one that would fit me, my budget requirements, and have the speed and performance that I wanted  When "KITPLANES" published the article featuring Roy Marsh's new KR-2S, it was the first I had heard of any major modifications or improvements to the same old KR design  I believe that article and Roy Marsh's workmanship have probably been the greatest boon to Rand Robinson (RR) in the last twenty years  It certainly caught my eye! Here was the same design I had decided I wanted to build twenty years ago, with all of the improvements I wanted  It was sitting on fixed gear with some reasonable ground clearance  It had the capability to be built large enough to accommodate me  It has enough prefab parts available that it didn't have to be 100% scratch built if I decided to hurry the project along  And it had the speed I wanted  I knew that Roy's published speeds were probably not realistic expectations for the average KR, but after knocking around for the last three years in my Champ, anything over 90 mph seems pretty fast to me 
After purchasing the info kit and the sales video from Rand Robinson, the next step after deciding for sure to build this plane was to order the KR-2 plans and the KR-2S addendum  I finally got my plans and was putting together my first order to start the plane, when my partner in the Champ pointed out that there was a partially completed KR-2S for sale in Trade-a-plane  My initial answer was "No, I don't even want to look at it  I want to build my own from scratch " My partner insisted that for the advertised price and the fact that it wasn't too far away, I ought to at least give the guy a call and investigate it  "No, I don't think I want to buy someone else's problems," I persisted  That night I went home and crunched up some numbers on the calculator and finally came to the conclusion that for the sake of my budget for the next several years, I really should give this guy a call 
Three days later, I flew to his place about 400 miles away to take a look at his project  At this point I should probably mention that I consider myself to be fairly knowledgeable about airplane construction, although the vast majority of my experience is with tube and fabric  The rest of this article deals with what I looked for and more importantly what I missed and have had to repair in the last year since I purchased the project 
When we went to the seller's house, I found that the left wing was built using the Dan Diehl wing skins and the right wing skins were leaning against the wall inside the house  Also the canopy was in the house with the canopy covered with paper and tape  I wanted to inspect the fuselage first, so off we went to the shop 
There I found a fuselage sitting on it's gear painted in primer gray  The first step was to inspect the quality of workmanship of what could be seen as it sat  The interior of the fuselage looked as if it had been built with a great deal of care  The fit and finish of all of the interior wood was very nice  Even the gussets looked like they had been painstakingly perfectly fitted  The glass work on the turtle back also looked very precise and clean  It was evenly faired into the vertical and horizontal stabs  The tail also appeared to be well built with the exception of a depression directly over the front and rear spars in the horizontal stabs  He explained that when he moved recently, that he had shot the plane with gray primer to protect it from the weather since he wouldn't have ready access to a shop to put it in right away  It ended up sitting out in the hot south Texas summer sun for a few weeks before he got a shop rented to work in  That caused the glass (or possibly the foam inside the horizontal stab) to swell, except that it held onto the spar, so it was slightly ballooned in front of and behind the spars  His recommendation was to fill it back smooth with micro 
I also found a small linear crack in the lower left wing spar cap on the left wing stub  It appeared to be from over tightening the rear spar wing attach fitting bolts  His explanation was that the crack wasn't important because the rear spars only job is to keep the wings from folding back  I also noticed that the holes for attaching the outer wing to the wing stub were badly rounded out on the rear spar  He explained that the Diehl wing skins require the rear spar to be swept slightly more forward than the stock wings  This won't allow you to use the rear spar attach fittings from RR and that I would need to fabricate a new set of rear spar attach fittings 
I also found that the aileron bellcranks were not built or installed as per plans, but found that they looked professional  I couldn't check for function since the right bellcrank and sheeve wasn't installed, the left wing also wasn't installed, and the right wing didn't exist yet 
Next we pulled the inspection panels off of the fuselage and tail and looked at everything I could see with a good flashlight  I didn't find anything else that might be questionable about the fuselage except for a cracked elevator trim tab that was damaged when it fell off it's hanging place on the wall 
Next we spent some time going over his builders log and builders photo album  I still hadn't seen anything that would dissuade me from buying this project 
At this point it was starting to get late and my ride down needed to get airborne for the flight home  I needed to make a decision about whether I wanted this project or not, but I hadn't inspected the wings and canopy yet  I took a cursory look at the left wing and saw lots on micro built up on it and some bubbles in the leading edge, but nothing that looked seriously wrong to my amateur eye  The right wing was only a set of spars in the shop and the Diehl wing skins in the house, so there wasn't much to look at there  The canopy was wrapped in paper and tape, so there wasn't much to look at there either  I decided that even if there were serious problems in the wing that was built, I would be money ahead to go ahead and buy the project  For the advertised price, I could build a new set of wings and still be way ahead financially  We negotiated a final price, shook hands, took my ride to the airport, and started off in search of a U-haul to haul the project home 
Now, at this point, some of you are thinking about what I surely must have forgotten to inspect and why didn't I take a local A & P or EAA member along for the ride  First of all, I don't know any mechanics locally that have any experience with glass and our EAA chapter of which I am VP is woefully lacking in fiberglass knowledge  Secondly, as you will see, I missed plenty  Some by ignorance, some by just not looking close enough 
Now for a list of the problems that I found over the last year and a few of the fixes that I came up with 
I found that the lower set of rear spar attach fittings on the left rear spar were installed backwards with the longer spaced hole towards the fuselage  Since this is the same place that also had the cracked spar cap, it required a major change  Also in the same area he had drilled through the rear spar with a hole saw to create a place for the aileron cable to pass through and managed to cut out the second from the outside vertical brace in the spar  Then he chose to install the aileron bellcranks in front of the rear spar, and cut another hole through the rear spar for the aileron push rod  He also managed to cut out the outside vertical brace in the spar  Since the holes were already drilled through the spar, the choices were to either cut out that section of spar cap and scarf a new piece in, cut the whole rear spar carrythrough out of the fuselage including ruining the left lower wing skin, or do something else creative to reinforce the spar cap and install a custom built set of attach fittings 
I also found that after I built and installed the right side wing stub ribs and skin that the aileron bellcrank setup would not work as installed  The cable that crosses between the two bellcranks had a sharp uphill from the sheeve to the bellcrank in the last 12 inches on either side  This combined with the radius that the bellcranks turn caused the cross cable to pull up tight when the ailerons were pushed to either end of their travel, but allowed the cables to go very slack when the ailerons were centered  Also the Aileron pushrods needed to pass directly through the lower set of rear wing attach fittings to attach to the aileron  This whole rear spar and aileron bellcrank setup was going to either have to be redesigned or cut out and built to plans  The bottom line is that the problems I observed when I inspected this part were much more serious than expected when I had to fix it 
I decided that I had to remove the rear fittings from the left wing to be replaced with the new set that my neighborhood machinist was cutting out for me  When I put the wing on the work bench to start removing the rear fittings, I thought I had better take a closer look at the bubbles in the leading edge  I found that as I pushed on the leading edge, it delaminated between the glass lay-up on top and the upper and lower wing skin edges that were floxed together underneath  I concluded that that area had to come apart and took a belt sander to the leading edge  What I found was that the leading edge had been floxed together and glassed over, but the mold release had never been scrubbed off the leading edge of the wing  It peeled apart for rebuild quite easily 
When I got back to removing the rear spar attach fittings, I noticed that the woodwork inside the wing looked awfully dull  The reason was that the wing had been closed up without varnishing any of the woodwork  This was rectified with a small hole saw, a number of extensions and a modified undercoating sprayer 
I also found that the aluminum drain fitting in the bottom of the left wing tank had been glassed into place upside down  The tapered pipe threads were tapered the wrong way to install the draincock into the tank  Retapping the fitting the right direction seemed to be a good fix for that problem 
When I finally got around to attaching the wing to the fuselage, I found that the front spar attach fittings were badly misaligned  Although they could be forced into alignment, I didn't think I needed that kind of preload on the main spar fittings  This problem was fixed by calling on my local neighborhood machinist to build me an aligning fixture and reaming the attach holes to the next larger size and ordering the new sized bolts 
On the fuselage I found that although it had new Cleveland wheels and brakes on it, one of the brakes had a severe wobble to it  I must complement the manufacturers for taking care of that problem  One call to the Cleveland factory and they shipped me a new set of wheels and brakes even though the receipt for this set was over four years old and in the original builders name  Their only concern was that this set had never been placed in service yet 
I chose to sand the load of micro off the left wing to see what it was covering  When I got down to the glass, I found that there was no glass for the aft inch and a half of the underside of the wing in front of the aileron hinge  With the Diehl wing skins, you build the wings, then cut the ailerons out of trailing edge of the wing  He had mismeasured and cut too much material off the bottom side of the trailing edge in front of the aileron  It was filled by floxing a piece of spruce into the gap to fill the space between the back edge of the fiberglass and the aileron mount  I chose to wrap the trailing edge of that wing, and the other wing to match with a couple of lay-ups of glass 
When I sanded the primer off the aforementioned damaged trim tab, I found that the hinge was floxed to the leading edge of the foam insides of the tab, but not the glass  I also chose to wrap the front of the trim tab with a lay-up of glass 
I decided to pull the paper off the canopy and take a look at it before I'm ready to bolt it on and fly  The original builder had blown his own canopy and after some of the previous problems, I was beginning to have some concerns about not having looked it over closely enough  The canopy turned out to have been blow a little too large  It ended up with a little larger bubble for headroom, which I didn't object to  However, it had more headroom on the right side than the left  Yes, it was just a little bit lopsided  The main problem was that the canopy is stretched thin enough that it can be easily pushed in with one hand when the weather is warm   My fear was that this is just thin enough that it may decide to lay on my head or in my lap when flying on a warm day  It will have to be replaced 
I'm sure that many that are reading this could see several of the potential problems before I mentioned them, but some others may not have and I'm sure that there could have been many other problems that didn't but could have existed on this project  This is also not intended to be critical of the gentleman that started this project as many parts of it, especially the wood work are better than I could have done and much of his work is outstanding  I prefer to think that I'll end up with a better plane with his woodwork combined with my glasswork  This article is intended to feature some of the problems that you may run into in buying someone else's project 
The final question is, knowing what I have found over the past year, would I have still purchased this project  The answer is yes, but primarily because the price was right in that I am still money and work ahead of where I would be if I had started the project from scratch  There are a few things that I would have done differently, but nothing that I can't live with  Although I won't be able to say that I built it all from scratch, I have built and rebuild enough of the plane that I should have no problem qualifying under the 51% rule 
You can send comments directly to the author via e-mail at "jscott@LANL GOV" 
Here is an brief explanation of how I built my turtledecks  The jig was constructed from scrap plywood and a few 1x4s that I ripped into stringers  I made two temporary bulkheads from the plywood, one for each end  Remember the forward bulkhead needs to be shaped in a way that will closely match the aft end of your canopy frame  Make an aft bulkhead by placing a straight edge at the top of your forward bulkhead and the trailing edge of your horizontal stabilizer  This will give you an idea of how tall your aft bulkhead needs to be  As far as location, I placed my aft bulkhead just forward of the lower/front of my vertical fin  I constructed the jig on the fuselage, it is glued together with automotive bondo 
After the bulkheads were bondoed to the fuselage I used the stringers that I ripped from the 1x4s and bondoed them to the bulkheads  This gave me a male form to cover with thin plastic or posterboard  I stapled two layers of posterboard to the jig(thin plastic would work better)  The posterboard wraps down two inches onto the fuselage  After I was satisfied with the way it looked, I then covered the entire thing with duct tape (fiberglass will not stick to duct tape) On top of this I wetout one layer of tri-ply cloth (22oz) that I had left over from an earlier project, and one layer of 8oz  bid  Remember to mask off your fuselage so you don't get epoxy on it  If you are not familiar with composite lay-ups, you should plan on razor cutting your lay-ups 4 to 6 hours after wetout while the lay-up is still soft enough to cut with a razorblade 
After the lay-up cured (2 or 3 days) it was removed from the jig, and the jig was removed from the fuselage and discarded  (be careful, the bondo sticks very well to the spruce, you could splinter your wood during removal) I now have a fiberglass skin that tends to hold the shape of the jig but is still flexible enough to work with  I made two bulkheads out of 1/4 last-a-foam (AS&S) using the plywood formers from the jig as a guide  I covered these foam bulkheads with one 8oz layer of glass on each side, with a glass to glass edge on the bottom  After cure these bulkheads were bondoed into place (to the fuselage)and the fiberglass skin was pulled down tight and floxed to the bulkheads  When the flox cured the bondo joints were broken, again being careful not to harm the wood  The turtledeck was removed from the fuselage and 2 inch tapes added to the bulkheads inside and out 
At this point the turtledeck looked great and only weighed about 5lbs  but I noticed you could deform the skin by pushing hard on the outside  So I flipped the turtledeck over and from 1/4 inch last-a-foam, I cut two inch wide strips that would run the entire length, forward and aft inside the turtledeck  In effect these would act as composite stringers, I made enough of these two inch wide strips to make up three stringers  One down the center (sort of a backbone) and one on each side of the "backbone" half the distance to the edge of the turtledeck  I sanded the edge of the foam so that when covered with a layer of bid @ 45degrees there would be a nice transition from the turtledeck skin up onto the foam and then back onto the turtledeck I scuff sanded and glued the foam stringers in with micro  I covered the foam stringers with one layer of 8oz bid @ 45degrees 



ground_truth: Long Term Capital Management (LTCM).

prompt_front: Now, answer the following question based on the text below, only give me the answer and do not output any other words.

Question: Why is it important for the sides of the fuselage to be sloped (tumbled home)?

Read the following text and answer briefly.

Context 4: 
An electric circuit is an interconnection of electric components such that electric charge is made to flow along a closed path (a circuit), usually to perform some useful task 
Electric power is the rate at which electric energy is transferred by an electric circuit  The SI unit of power is the watt, one joule per second 
Electricity generation is often done with electric generators, but can also be supplied by chemical sources such as electric batteries or by other means from a wide variety of sources of energy  Electric power is generally supplied to businesses and homes by the electric power industry  Electricity is usually sold by the kilowatt hour (3 6 MJ) which is the product of power in kilowatts multiplied by running time in hours  Electric utilities measure power using electricity meters, which keep a running total of the electric energy delivered to a customer  Unlike fossil fuels, electricity is a low entropy form of energy and can be converted into motion or many other forms of energy with high efficiency 
Electronics deals with electrical circuits that involve active electrical components such as vacuum tubes, transistors, diodes, optoelectronics, sensors and integrated circuits, and associated passive interconnection technologies  The nonlinear behaviour of active components and their ability to control electron flows makes amplification of weak signals possible and electronics is widely used in information processing, telecommunications, and signal processing  The ability of electronic devices to act as switches makes digital information processing possible  Interconnection technologies such as circuit boards, electronics packaging technology, and other varied forms of communication infrastructure complete circuit functionality and transform the mixed components into a regular working system 
Today, most electronic devices use semiconductor components to perform electron control  The study of semiconductor devices and related technology is considered a branch of solid state physics, whereas the design and construction of electronic circuits to solve practical problems come under electronics engineering 
Thus, the work of many researchers enabled the use of electronics to convert signals into high frequency oscillating currents, and via suitably shaped conductors, electricity permits the transmission and reception of these signals via radio waves over very long distances 
Early 20th-century alternator made in Budapest, Hungary, in the power generating hall of a hydroelectric station (photograph by Prokudin-Gorsky, 1905–1915) 
In the 6th century BC, the Greek philosopher Thales of Miletus experimented with amber rods and these experiments were the first studies into the production of electrical energy  While this method, now known as the triboelectric effect, can lift light objects and generate sparks, it is extremely inefficient  It was not until the invention of the voltaic pile in the eighteenth century that a viable source of electricity became available  The voltaic pile, and its modern descendant, the electrical battery, store energy chemically and make it available on demand in the form of electrical energy  The battery is a versatile and very common power source which is ideally suited to many applications, but its energy storage is finite, and once discharged it must be disposed of or recharged  For large electrical demands electrical energy must be generated and transmitted continuously over conductive transmission lines 
Electrical power is usually generated by electro-mechanical generators driven by steam produced from fossil fuel combustion, or the heat released from nuclear reactions; or from other sources such as kinetic energy extracted from wind or flowing water  The modern steam turbine invented by Sir Charles Parsons in 1884 today generates about 80 percent of the electric power in the world using a variety of heat sources  Such generators bear no resemblance to Faraday's homopolar disc generator of 1831, but they still rely on his electromagnetic principle that a conductor linking a changing magnetic field induces a potential difference across its ends  The invention in the late nineteenth century of the transformer meant that electrical power could be transmitted more efficiently at a higher voltage but lower current  Efficient electrical transmission meant in turn that electricity could be generated at centralised power stations, where it benefited from economies of scale, and then be despatched relatively long distances to where it was needed 
Since electrical energy cannot easily be stored in quantities large enough to meet demands on a national scale, at all times exactly as much must be produced as is required  This requires electricity utilities to make careful predictions of their electrical loads, and maintain constant co-ordination with their power stations  A certain amount of generation must always be held in reserve to cushion an electrical grid against inevitable disturbances and losses 
Electricity is a very convenient way to transfer energy, and it has been adapted to a huge, and growing, number of uses  The invention of a practical incandescent light bulb in the 1870s led to lighting becoming one of the first publicly available applications of electrical power  Although electrification brought with it its own dangers, replacing the naked flames of gas lighting greatly reduced fire hazards within homes and factories  Public utilities were set up in many cities targeting the burgeoning market for electrical lighting  In the late 20th century and in modern times, the trend has started to flow in the direction of deregulation in the electrical power sector 
The resistive Joule heating effect employed in filament light bulbs also sees more direct use in electric heating  While this is versatile and controllable, it can be seen as wasteful, since most electrical generation has already required the production of heat at a power station  A number of countries, such as Denmark, have issued legislation restricting or banning the use of resistive electric heating in new buildings  Electricity is however still a highly practical energy source for heating and refrigeration, with air conditioning/heat pumps representing a growing sector for electricity demand for heating and cooling, the effects of which electricity utilities are increasingly obliged to accommodate 
Electricity is used within telecommunications, and indeed the electrical telegraph, demonstrated commercially in 1837 by Cooke and Wheatstone, was one of its earliest applications  With the construction of first intercontinental, and then transatlantic, telegraph systems in the 1860s, electricity had enabled communications in minutes across the globe  Optical fibre and satellite communication have taken a share of the market for communications systems, but electricity can be expected to remain an essential part of the process 
The effects of electromagnetism are most visibly employed in the electric motor, which provides a clean and efficient means of motive power  A stationary motor such as a winch is easily provided with a supply of power, but a motor that moves with its application, such as an electric vehicle, is obliged to either carry along a power source such as a battery, or to collect current from a sliding contact such as a pantograph  Electrically powered vehicles are used in public transportation, such as electric buses and trains, and an increasing number of battery-powered electric cars in private ownership 
Electronic devices make use of the transistor, perhaps one of the most important inventions of the twentieth century, and a fundamental building block of all modern circuitry  A modern integrated circuit may contain several billion miniaturised transistors in a region only a few centimetres square 
A voltage applied to a human body causes an electric current through the tissues, and although the relationship is non-linear, the greater the voltage, the greater the current  The threshold for perception varies with the supply frequency and with the path of the current, but is about 0 1 mA to 1 mA for mains-frequency electricity, though a current as low as a microamp can be detected as an electrovibration effect under certain conditions  If the current is sufficiently high, it will cause muscle contraction, fibrillation of the heart, and tissue burns  The lack of any visible sign that a conductor is electrified makes electricity a particular hazard  The pain caused by an electric shock can be intense, leading electricity at times to be employed as a method of torture  Death caused by an electric shock is referred to as electrocution  Electrocution is still the means of judicial execution in some jurisdictions, though its use has become rarer in recent times 
Electricity is not a human invention, and may be observed in several forms in nature, a prominent manifestation of which is lightning  Many interactions familiar at the macroscopic level, such as touch, friction or chemical bonding, are due to interactions between electric fields on the atomic scale  The Earth's magnetic field is thought to arise from a natural dynamo of circulating currents in the planet's core  Certain crystals, such as quartz, or even sugar, generate a potential difference across their faces when subjected to external pressure  This phenomenon is known as piezoelectricity, from the Greek piezein (πιέζειν), meaning to press, and was discovered in 1880 by Pierre and Jacques Curie  The effect is reciprocal, and when a piezoelectric material is subjected to an electric field, a small change in physical dimensions takes place 
§Bioelectrogenesis in microbial life is a prominent phenomenon in soils and sediment ecology resulting from anaerobic respiration  The microbial fuel cell mimics this ubiquitous natural phenomenon 
Some organisms, such as sharks, are able to detect and respond to changes in electric fields, an ability known as electroreception, while others, termed electrogenic, are able to generate voltages themselves to serve as a predatory or defensive weapon  The order Gymnotiformes, of which the best known example is the electric eel, detect or stun their prey via high voltages generated from modified muscle cells called electrocytes  All animals transmit information along their cell membranes with voltage pulses called action potentials, whose functions include communication by the nervous system between neurons and muscles  An electric shock stimulates this system, and causes muscles to contract  Action potentials are also responsible for coordinating activities in certain plants 
In the 19th and early 20th century, electricity was not part of the everyday life of many people, even in the industrialised Western world  The popular culture of the time accordingly often depicted it as a mysterious, quasi-magical force that can slay the living, revive the dead or otherwise bend the laws of nature  This attitude began with the 1771 experiments of Luigi Galvani in which the legs of dead frogs were shown to twitch on application of animal electricity  "Revitalization" or resuscitation of apparently dead or drowned persons was reported in the medical literature shortly after Galvani's work  These results were known to Mary Shelley when she authored Frankenstein (1819), although she does not name the method of revitalization of the monster  The revitalization of monsters with electricity later became a stock theme in horror films 
As the public familiarity with electricity as the lifeblood of the Second Industrial Revolution grew, its wielders were more often cast in a positive light, such as the workers who "finger death at their gloves' end as they piece and repiece the living wires" in Rudyard Kipling's 1907 poem Sons of Martha  Electrically powered vehicles of every sort featured large in adventure stories such as those of Jules Verne and the Tom Swift books  The masters of electricity, whether fictional or real—including scientists such as Thomas Edison, Charles Steinmetz or Nikola Tesla—were popularly conceived of as having wizard-like powers 
With electricity ceasing to be a novelty and becoming a necessity of everyday life in the later half of the 20th century, it required particular attention by popular culture only when it stops flowing, an event that usually signals disaster  The people who keep it flowing, such as the nameless hero of Jimmy Webb’s song "Wichita Lineman" (1968), are still often cast as heroic, wizard-like figures 
Ampère's circuital law, connects the direction of an electric current and its associated magnetic currents 
^ Diogenes Laertius  R D  Hicks (ed )  "Lives of Eminent Philosophers, Book 1 Chapter 1 "  Perseus Digital Library  Tufts University  Retrieved 5 February 2017  Aristotle and Hippias affirm that, arguing from the magnet and from amber, he attributed a soul or life even to inanimate objects 
^ Aristotle  Daniel C  Stevenson (ed )  "De Animus (On the Soul) Book 1 Part 2 (B4 verso)"  The Internet Classics Archive  Translated by J A  Smith  Retrieved 5 February 2017  Thales, too, to judge from what is recorded about him, seems to have held soul to be a motive force, since he said that the magnet has a soul in it because it moves the iron 
^ a b c Guarnieri, M  (2014)  "Electricity in the age of Enlightenment"  IEEE Industrial Electronics Magazine  8 (3): 60–63  doi:10 1109/MIE 2014 2335431 
^ Srodes, James (2002), Franklin: The Essential Founding Father, Regnery Publishing, pp  92–94, ISBN 0-89526-163-4 It is uncertain if Franklin personally carried out this experiment, but it is popularly attributed to him 
^ a b Guarnieri, M  (2014)  "The Big Jump from the Legs of a Frog"  IEEE Industrial Electronics Magazine  8 (4): 59–61, 69  doi:10 1109/MIE 2014 2361237 
^ Hertz, Heinrich (1887)  "Ueber den Einfluss des ultravioletten Lichtes auf die electrische Entladung"  Annalen der Physik  267 (8): S  983–1000  Bibcode:1887AnP   267  983H  doi:10 1002/andp 18872670827 
^ "The Nobel Prize in Physics 1921"  Nobel Foundation  Retrieved 2013-03-16 
^ John Sydney Blakemore, Solid state physics, pp  1–3, Cambridge University Press, 1985 ISBN 0-521-31391-0 
^ Richard C  Jaeger, Travis N  Blalock, Microelectronic circuit design, pp  46–47, McGraw-Hill Professional, 2003 ISBN 0-07-250503-6 
^ "The repulsive force between two small spheres charged with the same type of electricity is inversely proportional to the square of the distance between the centres of the two spheres " Charles-Augustin de Coulomb, Histoire de l'Academie Royal des Sciences, Paris 1785 
^ Sewell, Tyson (1902), The Elements of Electrical Engineering, Lockwood, p  18   The Q originally stood for 'quantity of electricity', the term 'electricity' now more commonly expressed as 'charge' 
^ a b Berkson, William (1974), Fields of Force: The Development of a World View from Faraday to Einstein, Routledge, p  370, ISBN 0-7100-7626-6 Accounts differ as to whether this was before, during, or after a lecture 
^ "Lab Note #105 EMI Reduction – Unsuppressed vs  Suppressed"  Arc Suppression Technologies  April 2011  Retrieved March 7, 2012 
^ Almost all electric fields vary in space  An exception is the electric field surrounding a planar conductor of infinite extent, the field of which is uniform 
^ Paul J  Nahin (9 October 2002)  Oliver Heaviside: The Life, Work, and Times of an Electrical Genius of the Victorian Age  JHU Press  ISBN 978-0-8018-6909-9 
^ "The Bumpy Road to Energy Deregulation"  EnPowered  2016-03-28 
^ a b c d e f g h Van Riper, op cit , p  71 
Look up electricity in Wiktionary, the free dictionary 
Basic Concepts of Electricity chapter from Lessons In Electric Circuits Vol 1 DC book and series 



ground_truth: The sides of the fuselage are sloped to create a conical section when the fuselage is formed.