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
Kass – You Should Listen Closely To The “Oracle Of Boston”
Sobering article. When the POTUS disputes the concept that all men are created equal, and he is on video disputing the Declaration of Independence, then we have a serious problem in American politics.
Consumer Buckles But Unbowed
A new deal with China could be a bad thing, as it means even less reserve currency bolstering the world economy as if our trade deficit could really be erased!
Trump’s Trade Tantrum Triggers Slump
Your use of the terms welfare driven and Keynes seems inaccurate, although I like the article. It is more MMT than Keynes, as Cheney said deficits do not matter. Keynes didn't advocate that view. And seems like the financialization class receives welfare from the Fed. Welfare goes to the elite for the most part.
The Canadian Consumer Has Hit A Wall
I hope the Meng issue is settled forvorably for Canada, meaning she gets back to China. If China decides to dump all its Canadian assets I could see some serious problems for your nation, Prof.
GDP Estimates Tumbling Due To Shutdown: Build A Wall And Crime Will Fall
He may be catchy, but Trump is hardly a catch.
Tantrums And Tapers, TBAs And Mortgage Rates
The economy in some ways is in worse shape than 2013, but the counterparty derivative markets may be stronger due to the existence of clearinghouses. That allows bankers to sleep at night.
Currency War Combatant Capability Comparisons
Yes, this is an interesting article. World cooperation advances to offset the abuser, our very own nation!
Jim Cramer Slides To Dark Side On China Tariffs
Update 2: Larry Kudlow says no official meeting was cancelled, but that was not the issue. The issue is that the US rejected a Chinese outreach. Add this to continuing threats to Huawei's Meng, and we will have little chance for a trade deal. China will throw Canada into a recessionary position to add to this world turmoil.
China’s Eurodollar Story Reaches Its Final Chapters
This scenario could happen, but, China has bounced back before. It signs onto the Eurodollar, but it doesn't sign on to Basel. It can rope a dope for a long time, wearing out the West. Time will tell.
US Rejects Chinese Offer For Preparatory Trade Talks; Stocks Slide
IP theft is what this is all about. That is why it is unlikely that there will be any agreement and the world economy will tumble. I hope I am wrong, but only if Trump blinks.