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
The COVID Stimulus Is The Government’s Latest Rejection Of Say’s Law
So on mainstreet, where people are unemployed and their benefits are delayed, there is not a shortage of money? Seriously, Libertarians? And Says Law is wrong. Lack of demand can destroy the desire for supply.
Serious Bending Of The “V”
If everyone would wear masks, the virus could be tamped down as it has been in China. But many Americans do not understand the logic or the risk of not wearing a mask.
Same Trade, Different World
Europe and the rest of Asia surely buy Chinese products.
The Figure-It-Out Economy
Must read. Sobering assessment of stocks and mainstreet.
Tariffs On China Are Paid By Americans
The Libertarians have this right. Schiff is fighting a strong nationalistic headwind.
Did China Pandemic Endanger The World For A Deal?
Update 5: Five Eyes Spy group has said that the Covid-19 has come from the Wuhan lab, but by accident. However, China withheld timely information. Trump's only idea is to slap tariffs on China. While some sanctions make sense, more tariffs do not. This will hurt the recovery in the USA more than Trump can imagine.
The Cost Of Our Coronavirus Insanity
So didn't Trump's trade war also hurt supply chains? As for slowing the virus, we won't know until society is partially opened. If people try to protect themselves fewer people will be subject to the virus.
The Cost Of Our Coronavirus Insanity
Actually you made a case for increasing efforts against the Coronavirus as the African nations did not do against the locusts. Yet you made the west be guilty of fighting the virus instead? What makes you think that the locusts would have been dealt with if we didn't have the Covid-19?
The Fed Is Trying To Solve The Wrong Problem
It appears that the Fed never learns. It is a procyclical bank just like every other bank! Good article.
Did China Pandemic Endanger The World For A Deal?
Update 4: Trump's idea of sanctions on China is to increase tariffs. POTUS45 is considering applying additional tariffs. That is a very bad idea.