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
Fed Speakers Cancel Each Other Out
Bet on the Hawks. Unless a leopard changes it's spots. Sorry for the mix.
Attacking The Everything Bubble Without Killing The Economy
I am not really critical of Mish. He gets the difficulty of asset inflation on main Street, Bill. It is just that popping everything has unacceptable risks worldwide. I do not know his views about Palley. Thanks for the comment.
China May Cancel Trade Talks If Trump Extends Tariffs
It is more than just elections being the difference. Growth is stronger in China. China is not subject to Basel constraints. China can stop Apple completely if it wanted to. And with so many people, massive supply chains can leave the US on the outside looking in.
Why Is Mr. Trump Saying 70% Power Outage On Eve Of Hurricane Maria Strike?
Trump is a serial liar, and never wanted to help Puerto Rico. Since he refused the help of other nations, the blood is on his hands. Trump is a murderer of Latino US citizens. Disgusting and revolting.
Yellen Wants Fed To Commit To Future Booms To Make Up For Busts
Unfortunately, wage growth suffers when the Fed intervenes too soon. I am surprised Mish advocates early intervention. I realise asset inflation is out of control. That could be fixed by simply upping the capital requirements for banks.
Fed Governor Cements Looming Economic Destruction
Yes, wages have been flat while prices go up. You would think the Fed would get it.But they like asset inflation while there is no wage growth!
Fed Governor Cements Looming Economic Destruction
Duy labor chart is here: www.talkmarkets.com/.../fed-signals-will-break-the-economy-wait-til-trump-finds-out
"Lower For Longer": Yellen Urges Fed To Commit To "Booms" To Offset Crashes
The economy is not booming as much as asset prices are booming. We have asset speculation and a relatively weak economy. Manufacturing and services are still growing, but they are weakening.
A Decade After Lehman’s Collapse, $133M Loss Overwhelms A Clearing House
Wow, this will not foster confidence!
3%-5% Inflation Possible For U.S. Soon, Wealth Could Be In The Line Of Fire
The Fed should wait until inflation jumps before getting too excited. The average is still below 2 percent!