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
Two Crucial Issues In Foreign Trade
This is where trust comes in. As an emerging nation, China has lower tariffs then when we emerged. We have no choice but to trust the largest nation on the planet unless we decide not to do business with them. That mistake would quickly manifest.
Recession Lurks. What Will The Fed Do?
I think they may know it Prof. You make a great point. I get the feeling that they want to slow things down while appearing to be pleasing Trump. Interest rates are going lower, but housing is toppy.
Boeing Shares Dip As Airbus Seals Massive Order From China
Take that, Tariff Man!
Yield Curve Inversion: Why This Time Is Different
This is an article worth reading. The idea is presented that the bond market has a demand of its own at the long end. That demand is distorted and interest rates are lower because of the distortion. This is likely true. I have written about it. However, we still don't know two things. 1. We don't know if the Fed made a mistake in raising rates in December, and 2. we don't know if it will move quickly to admit that mistake! Historically it has not moved quickly to admit to anything.
China's C919 Poses Major Threat To Boeing's Dominance
China has historically been self sufficient. If you want to shun free trade, author, why don't you summon our multinationals home? They can sell their wares at inflated prices to tapped out US consumers.
Goldman Just Put On The Next "Big Short" Trade
Helicopter money, the only way to get money into the hands of people who will buy American goods here in America.
What The Fed Really Said
Imo, good financial advice for the individual investor.
Will The Fed Turn Us Into Japan?
JapanRUs. Growth potential is relegated to the history books.
The Fed Follows Trump's Tweets, And Does The Right Thing
Very interesting article.
Downturn Is Here
Yeah, but if you listen to CNBC, restaurant traffic is up, so what could go wrong? I think that is a result of overworked adults too tired to prepare dinner and singles who can't save going to grocery stores. Hardly a signal of good economic times.