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
Why The Only Answer Is To Break Up The Biggest Wall Street Banks
In the Great Depression, the government was strong, stronger than Wall Street and the international bankers. That no longer is the case. Government is actually too weak now.
Higher Oil Price: Winners And Losers
Most of the tax cuts are going toward stock buy backs and management salaries. So oil rise will just be a tax for most people, being offset by nothing positive.
Clever Fed Plan May Destroy Demand
This study confirms the plan to limit wages to the masses and basically confirms the article I posted here on March 13: www-commondreams-org.cdn.ampproject.org/.../shocker-tax-cuts-hand-ceos-admit-they-wont-invest-record-profits-worker-wage-hikes
One Word: Contagion
Remember Cyprus! Fascinating article. As long as the Italians look down on the Germans as being a bunch of house renters, this issue will be with us as long as derivatives steal the show.
Why A Euro Break-Up Doesn’t Scare Me
Italy has more bonds than the size of its GDP would indicate. They are held in derivative committments and as derivative collateral. That is why I think the world is more worried than we can comprehend.
When $80 Crude Oil Doesn’t Feel Like $80 Crude Oil
I question the 30 MPG. Only because many seem to be buying SUV's and pickups. They can't be getting that mileage. But it certainly is not the '70s now.
Interest Rates Just Peak, Bond Rally Coming?
Was it just another tantrum like 2013? How many times can we be fooled?
The End Of Stimulus? (And The Start Of The Crash?)
Helicopter money would be a more conservative act than Universal Basic Income, which could be inflationary.
Blackstone, BlackRock Or A Public Bank? Putting California’s Funds To Work
Public banks seem to be a lot safer than Blackrock and Fidelity in a deep crisis.
European End Game
This is one of the most entertaining and compelling articles I have read on Talkmarkets. Thanks for warning about bat-sh*t craziness!!!