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
Paul Krugman’s Compelling Case For Sustaining Demand Using Aggressive Economic Policies
And yet Trump forces austerity by giving the wealthy a blank check. It will be interesting to see if smaller business, the main beneficiary of the tax cuts, will expand. Those boys probably will just buy more real estate, but we will see.
Global Financial Breakdown Continues: Economic Growth Chokes On Massive Debt Increases
Without investment, production costs go up as factories labor at full capacity.
Weighing The Week Ahead: Should Investors Ignore The Shifting Geopolitical Winds?
Fascinating, as so many of Jeff's articles are.
The Waymo Tesla Self Driving Con
Update: It appears that #Tesla may have taken the blurb I quoted, regarding hardware off its website. At best it was misleading. If it referred to hardware meaning software was not covered by the statement, that could be misleading to many. Tesla obviously does not have the software to create a self driving car.
Having the hardware to do something without having the software really is meaningless in terms of actual capability. $TSLA
The End Of The Iran Nuclear Deal And Your Portfolio
Someone tell me how John Bolton weaseled his way into Trump's heart?
Why “Buy Low And Sell High” Is So Difficult To Implement
Procyclicality could be the friend of those who get in and out fast. It is not the friend of the mom and pop investor.
Kim, Trump, Thucydides
Bolton is to blame, and Trump hired that madman. John Bolton is a regime changer. He subscribes to the Oded Yinon view of the world and it gets more dangerous as time goes on.
Russia Finance Minister: We Are Ready To Ditch The Dollar In Favor Of The Euro
The EU has more in common with Russia than it does with the US, especially since Great Britain is leaving. Europe especially should not want to be a theater for a proxy war by backing the US's silly sanctions.
Kim, Trump, Thucydides
The US has done all it can to undermine any chance for peace by seeking regime change at the same time. The policy was bound to fail.
Why Is Inflation Stuck So Low?
Percentages of income to qualify for mortgages and rental contracts has risen greatly. There is an inflation, but it is in housing. 28 percent of income for housing has become 43 percent and in some cases much higher. This won't give companies much power to increase discretionary pricing for the goods they sell.