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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Las Vegas And Covid-19 Weakest Link
Update 5: Shelter in place orders from the governor of Nevada have darkened the Strip since this article was written. Air travel and NYC's illness rate still pose big problems for Las Vegas in the near future.
Las Vegas Pandemic Disappeared. Trump Knew
Update 11: Las Vegas did not get Coronavirus from too many Chinese through the Chinese New Year. Our infections most likely came from the East Coast and NYC! The West Coast seems to have the pandemic under control although Las Vegas cases are still growing. The east coast and really, east of the Mississippi is at a critical time.
Fed Truthers Are Wrong (Again)
I think bailing out companies who bought back stocks should be limited and those companies should never be able to do it again. It is an immoral use of taxpayer money to require nothing from these greedy risk taking chumps.
An EU Coronavirus Stimulus Deal Reached. It's Both Limited And Unlimited
Italy should just budget what it has to. If that destabilizes the Eurozone too bad.
This Is One View Of The End Of The Oil Age
Interesting article. The price of oil going forward may be determined by whether companies actually bring workers back to the office after the pandemic has passed.
Small Business Guarantees Are A Bucket Of Moral Fraud
Moral hazard for regular people? So what? The big corporations will get their moral hazard guarantees. At some point small business moral hazard is a good thing considering they were hung out to dry in the Great Recession.
Shortages In The Pandemic: Toilet Paper, Detergent And Pasta?
For Nevada, the supply chain corrections cannot be described as quick!
Build The NGDP And Businesses Will Come With The Goods And Services
My nearby family has been housebound 4 weeks. We have masks but can't get everything online like they can. The fear of human contact is simply something the Fed cannot fight with v shaped success.
Why Mexico Is Reluctant To Shut Down Its Economy To Combat COVID-19
No Belt and Road from the US to Mexico. We could have brought Mexico out of poverty years ago. Then they could be acting more responsibly towards Covid-19 than they are.
When Will We Be Freed From Covid-19 Lockdown?
Update 5: The Fed is setting up a Mainstreet Lending program. That should have been done during the Great Recession. Is it too late?