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 Economy Snaps As Richmond Fed Plummets Most On Record
Trump has to go! He is creating a disaster.
What Was Mnuchin Thinking? – The Atlantic – With Commentary
Interesting article. Back in the days of the Great Depression, Will Roger's said banks must be broke (overleveraged, vulnerable), if interest rates could not go up a percent. Now the financial markets go berserk at a quarter percent raise. How vulnerable must banks be now?
Trump's Sanctions Meet His Trade War
I am glad the Libertarians have joined in to oppose "Trumpian nonsense".
No, Mr. President, There Isn’t A Santa Claus
I can't believe I just read this.
Something Wicked This Way Comes. Is It The Fed? Is It The President? Is It The Treasurer?
Or perhaps we are all Mnuchin Candidates, kidnapped and brainwashed by Trumponomics!
Something Wicked This Way Comes. Is It The Fed? Is It The President? Is It The Treasurer?
Perhaps Mexico will hold Mnuchin hostage for the Chinese. China is the growth engine for the world. If that ends we may as well just have a great big war. Happy Holidays. Trump must go!
Meng's Arrest Vs. The Rule Of Law
Update 4: China may pass a law making illegal the practice of technology transfer in exchange for doing business in china. It is not expected to change local government transfer demands. It probably won't be obeyed. And these transfers are legal internationally. Perhaps China is willing to compromise, knowing that it can get any technology it wants from Japan and Israel. Most Americans would be surprised to know that this is already happening: www.talkmarkets.com/.../are-policy-refugees-jumping-the-trump-tariff-ship
Trump Will Have Government Shutdown For At Least A Month If He Wants Border Wall Funding
Most people do not want the wall. Maybe the author does but a full wall would be a massive waste of money as United States infrastructure continues to crumble. Trump is an A1 buffoon. Fix the roads POTUS!
Setting Up For More ‘Residual Seasonality’ Not Inflation
There is a lot of weakness in the economy.
Friday's Plunge May Have Been Manufactured... And A Bottom
Interesting concept. But we are still led by Hoover 2. Tariff mayhem and labor earnings could hurt the market going forward. We may not be in the Roosevelt era where he was determined to underpin the market with government action. It wasn't Hoover who made the famous quote about fear that you cited.