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
Why Bonds Aren’t Overvalued
I wonder if we could add Doug Cass to the tantrum brotherhood. That mafia scares people with bond prices all the time, in order to secure bonds for people who want to buy them at a discount. The only Cass I really liked anyway was Momma Cass.
Is The Recent Divergence Between Soft And Hard Data Unusual?
Lots of people have new cars. The payments are taking a toll on restaurants and even new auto sales. February real sales and March real sales show real weakness. Will the trend continue, James?
Brexit – Who Wins And Looses
Hi Elliott. It may not be clearcut as I said. You spoke about factories in the UK would be hurt. But I was going off your statement: "The EU exports far more to the UK than it imports." That would seem to give the UK the edge since the EU needs the UK more than vice versa. But foreign UK investment or lack of it, may alter my view in the future.
Can Self-Driving Cars Ever Really Be Safe?
I never thought I would see the day when so many scientific types would become so gullible. But Self Driving technology has spawned a vast army of gullibles.
Top Ten Reasons Self Driving Cars Are Useless
Thank you Kurt. I appreciate the support considering the establishment's commitment to self driving technology, and greed.
Can Self-Driving Cars Ever Really Be Safe?
This is what really will happen. Cars will cost more. But one slip up, human or otherwise, and people will not use the technology. This self driving car thing is a scam, and it is all about selling technology. Ayelet, you can't even merge into traffic with this technology. And an expert has said, you will never be able to negotiate construction zones with self driving technology. Also, do you want to buy a car that will crash you into a wall if you make an error and put others in danger? Skeptics are growing daily. The push for these cars is a money grab, only.
Brexit – Who Wins And Looses
The U.K. Is clearly in the driver's seat based on your figures. And that does not even count the importance if the UK's advantage regarding financial importance.
Portland Says Yes To Testing Driverless Cars, Other Cities Will Follow: Mass Adoption When?
These cars cannot merge into traffic, Mish. But people and mayors are likely making bank because the technology will be installed, but people will find out quickly the danger of using it.
Now You Tell Us
Sterilization is the scam of the century, or maybe one of three scams. The other two are the coming easy money in housing which could turn toxic, and the self driving car that cannot merge into traffic.
Characteristics Of US Minimum Wage Workers
I didn't realize Pennsylvania was such a cheapskate of a state when it comes to minimum wage.