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
US-China Trade Talks: No Solution In Sight
The world will have no choice but to unite against the USA. There is evidence this is happening. Trump is playing with fire and the risk of America being burned is increasing.
Why Germany Leads In Renewables: It Has Its Own Green Bank
Interesting concepts. US politicians are so afraid of their own shadows, so these ideas are unlikely here.
Whirlpool Tumbles After Missing Revenue, Slashing Guidance
This is what winning looks like.
$1.1 Trillion Fund Is Buying Everything With Fed At "Market's Mercy"
The Fed is hostage to the market until wages explode.
World Trade: Trade War Is Starting To Kick In
It may look and quack like a duck but whatever deal happens won't be a real duck. It can't be.
Reverse Mortgages Offer Odious Math For Homeowners
Great article. Reverse mortgages are dangerous!
The Actual Problem: Monetary Policy Ex-US
It does appear that what is still accommodative here at home is too tight for the EM's and the Eurodollar reserve currency market worldwide. China growth should tell us going forward.
Three For One In China Still Yields A Minus Situation
The Chinese are the tail that would love to wag the dog, Wall Street. Good way to stock up on the reserve currency.
Government Spending Doesn't Create Economic Growth
The government created Hoover dam. The resultant city of Las Vegas took awhile to grow to 2 million but the government was clearly the ultimate wealth generator. I think this is a tired argument to make against government. It may hold true in many cases but there are big exceptions.
Federally Funded Friday – China Talks And Fed Spending Get Us Back Over Our Lines
Will Roger's warned America about Republicans many years ago. Of course, both parties act stupidly towards China because that nation leads the world in manufacturing and in exports.