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
less
Latest Comments
October Labor Report: Effects On Workers & Investors
Back in the 60's, a man could make a living easily, and afford a home. It takes multiple incomes now. Making comparisons over time is like saying a live ball or a dead ball in baseball makes no difference. The game is different now. Purchasing power is different now. Recovery is more in doubt.
Frozen In Time, The Wrong S-Curve
Lack of money at the mainstreet level begs for helicopter money.
One Hedge Fund Manager Is Betting A Quarter Of His Money On A Credit ETF "Death Spiral"
This is a disturbing scenario for investors. Interesting!
Talking Turkey
Erdogan quacks like Trump. Amazing. If they quack the same maybe the outcome will be the same. Not good.
Big China Change(s): We Are All Losers In The End
Will Rogers, a greater man than we are, didn't like speculators. Apparently China is somehow doing wrong by not liking adverse speculation? What am I missing?
Markets: Not A Pond
When your middle class is larger than the entire USA population, you can get by without arrogant North America. There is power in numbers, and that can only mean trouble for nations that trust the USA more than 4.5 billion Asians.
Trump’s War On The Fed
This is a very interesting article. However, as the business cycle winds down, the business investment waits. Trump can badmouth the Fed all he wants, but that won't stop investors from being cautious.
Weighing The Week Ahead: Storm Warnings
Growth has continued at a breakneck rate throughout US history. To say slowing growth is misplaced fear, (if I interpret the author correctly), is not necessarily true. The slowing is likely due to global forces. Go to Las Vegas and see the numbers. Seems a bit empty on the strip. Are the Chinese told not to buy American? We need to wake up.
California Hit By 39 Earthquakes Within 24 Hours As Scientists Warn Of “Movement Along The San Andreas Fault”
Having been in a massive earthquake in Coalinga, Ca in 1983 and with relatives exposed to the faults the state, I can only hope things hold together or that they could be safe if something bad happens. This report is concerning, to say the least. I hope for the best.
No, The Government Didn’t Cause Unemployment
Don't know much about MMT, but the Fed ends business cycles, creating unemployment. Matt Yglesias shows it by charts: www.talkmarkets.com/.../kashkari-reveals-dark-secret-fed-plan-for-wages