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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What Is Trump Up To With All This Tariff Talk
In order for Trump to win, he will have to win very little.
Keynes And Trump Tariffs
The market has a lot on its plate, but adding the uncertainty of tariffs makes it tough for ceo's and investors alike. It is hard to feel sorry for those who supported Trump, but we have to face it, there were two very flawed candidates running for president.
Why Borrowers Need Securitization
Securitization has benefits but creates moral hazard. Loans are less carefully crafted, and risk can be mispriced. Investors can be fooled. But putting risk on everyone except the banks is the Greenspan way, and ruined the reputation of bankers in the Great Recession.
Weak Dollar Policy And Commodities
But who can out devalue whom? China will not sit still if the dollar is devalued. Trump talks about cheap energy. That can't be realized with a weak dollar.
Are We Seeing "Peak Auto Sales"?
How are millennials going to raise kids when they are ride sharing? I keep telling people that helicopter money is important, and maybe the only answer. And I suppose cash for clunkers was a non Fed form of helicopter stimulus. Time to get some cars into the hands of the millennials! Helicopter autos?
Are Equities Over-Owned By Households?
There is a disconnect between strong economic growth and the weakness of the Millennial Generation. Seems to me that this is ultimatel where things could get risky. Good article.
BIS Confirms Banks Use "Lehman-Style Trick" To Disguise Debt, Engage In "Window Dressing"
Just like the Libor scandal, little or nothing will be done.
Technically Speaking: The Drums Of "Trade" War
If the other nations band together it could be devastating to America. If Trump picks them off one by one maybe not. But he has declared trade war on everyone. So the future is in doubt.
Trade War: A Position Of Strength For…
Well, it could happen, but it could be an inefficient system. Costs will go up for the already strapped consumer. China would no longer have the cash to buy US bonds.
Good News From The Oil Patch And South Africa
We hope gaslighting is just a hobby of POTUS and not a sign of a diabolical desire to be king.