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
Central Banks Can "Magically" Prevent Disinflation
Inflationary policy when people are out of work appears to be just plain stupid, although the alternative, deflation, is just plain stupider. Kyle Bass is right, get money into the hands of regular people on a much larger scale!
When Will We Be Freed From Covid-19 Lockdown?
Update 6: China study proves Coronavirus can mutate often, making it more dangerous than thought. Also some areas of the world have a more severe form.
Did China Pandemic Endanger The World For A Deal?
It is hard to believe. But putting a pandemic clause in a trade deal is not normal. It is the smoking gun. Like I say, it could have been an accident or naturally occurring. Without an investigation no one can prove the virus was deliberate. But not sharing information was deliberate!
Did China Pandemic Endanger The World For A Deal?
Update 1: Australia is demanding an investigation into the origin and spread of the Coronavirus. It was just a matter of time. One hopes that moderation accompanies resolve. The world has enough evidence alone to sanction China for delaying information. But for the sake of world peace, the sanctions should be limited.
The Bear’s Lair: Into A De-Globalized World
Author, China is hardly militarist compared to the United States.
A Universal Basic Income Is Essential And Will Work
It is interesting that China as lender to the USA spends back into the economy but our lenders don't.
Did China Pandemic Endanger The World For A Deal?
ApparentlyMichele, this pandemic wording is not standard in trade deals.
Did China Pandemic Endanger The World For A Deal?
That is a very good question. Danielle is convinced that China had the knowledge and the time to announce the virus, yet waited until after the deal was signed to do so. I believe she makes a strong case. I believe we should act in a calm fashion, although hot heads could prevail. That would be a mistake in my view even though we have every right to take the low road.
COVID-19 Exposes Terrible Dangers Of Globalization
I believe the trade war led China to withhold information about the virus which would have served as warning to the western nations. I am in no way defending China, but they were not prepared to make good on phase one from the start.
Repricing The World
I have always loved your writing John, but your friend Dave iz saying that we open society where we have a lot of ventilators. That is signing a death sentence for many of us. That can't be sound policy. You are correct that testing is key. Hard to get past number one without adequate testing. Trump was using his gut when he thought cases would go from 15 to zero.