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
Fed Heading At Warp Speed Toward A Monetary Brick Wall
The Fed has plenty of room to do Helicopter Money. If the virus lockdown goes too far, that would be a smart move. The problem with not using the Fed is that there is little else to even the playing field for main street in the age of financialization.
Boeing’s Bean Counter Culture And Mass Financialization
I think it could be too big to fail. I am not sure if it would be allowed to fall into bankruptcy.
Boeing’s Bean Counter Culture And Mass Financialization
One more Max crash and this company will be toast. JMO.
Boeing’s Bean Counter Culture And Mass Financialization
Wow. Something does stink at Boeing. Eye opening information!
Virus-Bailouts: "No More Buybacks. Not Now, Not A Year From Now. Not Ever"
Stocks are very speculative. Dividends are not. Stock buybacks are irresponsible while dividends are the way to get money to shareholders. Great article!
Not Good: Eurodollar Futures Curve Sells Off, At The Front
LIBOR window into the soul of the banking system.
Las Vegas Pandemic Disappeared. Trump Knew
If you have no job, no money and children you very well could want money more than safety. Trump has people thinking this war will be short and he will win it. You just can't expect much from Americans anymore.
Las Vegas Pandemic Disappeared. Trump Knew
Update 9: NYC lacks medical equipment. With the hospitals filling, equipment becomes crucial for any effort to limit damage to victims. Trump is talking about opening the country by April 19th. Unless NYC and other hotspots are controlled, that date may be way too soon. Derivatives bets on Wall Street may be massive. But health must come first. Many of us underestimated the virus.
I'm A Coronavirus Heretic. Here's Why...
After a week of pondering, I think you are right Lady. Two week lockdown won't work as long as big cities like NYC are exploding with cases. Trump is aiming for April 19. That could be too soon. That could be a fatal mistake for the economy.
Will The Economy Recover Quickly?
Maybe you are right. State borders may be to porous. The problem with this pandemic is that healthy people transmit the disease yet we aren't testing healthy people. We are flying blind.