"..On July 12-13, 2000, while public media were assuring the credulous public of a "soft landing" for the U.S. economy, the New York Council on Foreign Relations (CFR) held a conference at its exclusive mansion-headquarters on the East Side of Manhattan, entitled "The Next Financial Crisis: Warning Signs, Damage Control and Impact."

For two days, several speakers told a high-powered audience of 250 people, comprised largely of bankers, investors, corporation officials, and policymakers, mostly from the United States, but also from Europe, of the possibility that the U.S. stock market, and potentially the world financial system, would melt down.

The conference occurred under the auspices of the CFR's "Financial Vulnerabilities Project," which the CFR established in 1999 to systematically look at such crises. Wall Street investment banker Roger Kubarych was the director of the project.

On Jan. 22, 2000, the CFR Project held its second big event: a scenario of a global financial meltdown, run as a war-game simulation at its Manhattan headquarters.

For the simulation, the CFR conscripted 75 people, including bankers, former Treasury Secretaries, and former State Department officials. Participants were divided into four teams, sent into four rooms, with the ability to communicate with each other and with a command headquarters through the computers. The four teams covered 1) monetary-financial, which dealt with the functions of the Federal Reserve Board of Governors; 2) economic and trade, which dealt with the functions of the U.S. Treasury Department; 3) regulatory matters; and 4) national security—nut case and former CIA director James Woolsey played the role of Secretary of Defense..."
http://www.larouchepub.com/other/2000/2729_cfr.html

NOTE: This info was already mentioned at
"Wolfowitz Cabale behind 911 and anthrax".
I thought it's interesting to open an own topic for that to look for more background details.
James Woolsey, ex CIA director is also "member" and friend of the Wolfowitz Cabal.