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
COVID-19 Exposes Terrible Dangers Of Globalization
No Peter. Tbe pandemic exposes the danger of trade wars. Had there not been a trade war this pandemic may have been nipped in the bud. Trump may be the direct cause of the pandemic unfolding as it did. Globalization does not work with trade wars.
What Coronavirus Sales Boosts Will Actually Stick After The Shutdown?
Admitting to scruffiness is reassuring. So is the thought that Clorox will prosper in the future.
Let Japan Show You Again Just How Laughable The Idea That Central Banks Can Support Markets
Helicopter money would be far more sustainable.
Market Commentary: Narrow Banks
Sad that this TNB is held up as an argument why helicopter money should not go directly from the Fed to individuals. The author clearly says all that is a no no, but really, that is not the best way to run a bank. The author said:
"As for who should have access to Federal Reserve services, it should be recognized that as a central bank, the institution’s main function is to conduct monetary policy, not to provide payments services to individuals or to the general public."
I can't buy that line of thinking.
The Looming Derivative Crisis
Chilling analysis. Hopefully the worst case does not come to pass.
Retail Icon JC Penney Considering Bankruptcy Protection
Sad day for old timers like me.
“America” Is Not Spreading Lies About China (Because Countries Cannot Talk)
Trump wasted the entire month of February but now he has a nightmare on his hands.
Abbreviated Coronavirus Dashboard For April 12: Fundamentally, Still Flying Blind
Qualifying for a card still doesn't mean you can't test positive again.
“America” Is Not Spreading Lies About China (Because Countries Cannot Talk)
If China is the enemy so is NYC and every other hotspot on the earth. People who have researched it have said the Covid-19 was from an animal in China, but I suppose more research must be done before we know if the lab made a mistake and let the virus out. Even so, China had no motive to destroy America, a major customer. Good grief people. Scott Sumner is right about this. China is not a willing enemy. We are wanting an enemy, the government that is.
Bending The Inflation Curve
Sobering assessment that will frighten all but the most overconfident investors.