The Fed knew about the housing bubble before it burst but lied and said they didn't: Bill HR 1424 to buy bad paper (eventually called TARP) was introduced in March 9, 2007, before there began to be bad commercial paper from private subprime RE loans, in August. I have published on two other ...
more The Fed knew about the housing bubble before it burst but lied and said they didn't: Bill HR 1424 to buy bad paper (eventually called TARP) was introduced in March 9, 2007, before there began to be bad commercial paper from private subprime RE loans, in August. I have published on two other prominent financial websites, Seekingalpha.com (as Gary A) and at Businessinsider.com. I muckrake the banking system and found premeditated causes for the housing bubble and subsequent meltdown. I am married with 4 grown children.
Specialties: Impacts of politics on the economy, interpreting economists, writing about the negative impact of some aspects of globalization and pros and cons of the new normal. I don't like tariff wars. Email bgamall at gmail
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Latest Comments
The Pandemic Has Revealed The Cracks In US Manufacturing: Here’s How To Fix Them
This is a dreadful article. Free trade creates efficient manufacturing. Trying to produce all this gear in the USA will just raise costs to the US consumer. Tariffs hurt the American consumer and the American manufacturer who imports pieces of the finished product from offshore, only to be taxed with tariffs before the product is even created.
US Coronavirus Outlook
Joseph, we were all duped by Trump including you. You should feel betrayed.
US Coronavirus Outlook
Now you must be trolling. Or are you just joking. Those are the two best outcomes of your statement.
Las Vegas Pandemic Disappeared. Trump Knew
Update 12: Well, while the doom of Wuhan or Italy did not embrace the entire USA the results in NYC and New Jersey were dreadful. Turns out according to Bob Woodward, Trump knew that Covid was more deadly and dangerous than the flu but lied about it. I unfortunately took Trump at his word for this article. I apologize for taking the word of a serial liar.
Is Steve Bannon Doing China A Big Favor?
Update 13: SMIC being banned from western high end chips will likely be the catalyst that forces China to move chip production onshore. This will result in lost business from US firms, and will result in those firms forever exclusion from the Chinese market and Chinese supply chains. It won't be just China who loses. Trump is doing massive damage to the US place in the world economy.
Only A Trickle
Great article. The Fed believes it can fix any financial crisis. That is why it allows risk that can do a lot of damage. The Fed looks like it fixed the Covid crisis. But there is a lot going on outside its reach.
US Coronavirus Outlook
They are a closed society. We have many travelers in the USA.
US Coronavirus Outlook
So I believe all shoud have the same rights. The Republicans want to limit voting to males and property owners!
US Coronavirus Outlook
Trump's evil dad believed there are killers and losers. That must be close to your philosophy. Right?
US Coronavirus Outlook
Being old is not a death sentence. You are acting like you have some sort elevated right to live that old people have to forfeit.