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
Global Smartphone Recession Confirms Consumer Downturn
Smartphone companies are mostly lying, greedy, cheating enterprises. They are dreadful and selfish. They do not care about their customers. They make the airlines look humane. What could possibly go wrong?
Amazon, And America’s Real Divide
Well, the Democrats could work on getting some territorial support away from urban centers by dismantling the unpopular gun control efforts that those rural areas hate. That seems like a no brainer since the Democrats are not going to really do gun control anyway.
China’s (Not) Safe
When China goes into recession and we follow, China won't be there for us like it was after the Great Recession. Then what?
Origins And Challenges Of A Strong Dollar
Add to all this, China won't be around to pick the USA up from the next Great Recession and we can see how reckless Trump is with the fate of the world.
The Oil Price Collapse Will Hit Canada
Canada has to export oil go the Pacific Ocean, it would seem. Relying solely on the USA seems to be unreliable, prof.
Chinese Company Pays Bondholders In Ham Instead Of Cash As Domestic Defaults Soar
Could be worse. The company could have been a producer of a less favored product and less appealing product.
50 Million Empty Homes In China, Third-Home Purchases Soar
But unlike the USA, China does not sign Basel, nor does the nation have to mark to market assets.
Goldman Warns "Margin Contraction Is Unlikely Without A Recession"
It is absurd to think that paying people more would cause a recession. The attempt to curtail wages causes recessions. Pay people more and they will buy more. Stop their wage growth and they cannot meet their credit obligations.
How Italy Leaves The Eurozone, Step By Step
While there are radicals in Italy, what can anyone expect when the Eurozone is such a joke?
Post US Election Commentary
Well, the closest thing would be the CIA, Alexis. I do not see a direct involvement of the CIA in big money economics unless it is working with Trump to manipulate the world economy, thinking that will help us. We do know the CIA was involved in anti Communism in Latin America in the 50's and 60's. It seems that the CIA is more involved, these days, in oil wars. But it may be involved in technology. I just haven't looked into it.