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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Show Me The Evidence!
I doubt if we need to see the truth, because it could give away secrets. It is up to the intelligence agencies, that have done what Mish has said in the past, to be honest with Trump and show him any proof they have. Also, the Dems are not the ones to be pushing these sanctions, since it looks like sour grapes. If the Dems had not had so much sleaze revealed, had they run clean campaigns, there would have been no worries about the email reveals. But they didn't. They looked like crooks. Now we have a president who may not be diplomatic enough for the office, for the demands of the office. But it is the Dems fault, and they should own up to their primary and election corruption. They need a fresh start and they need to pay attention to the average guy in the street. That was their base, in the past.
Accounting Gimmicks Won’t Stop The U.S.A. Titanic From Sinking
I agree with you Jim, that rent is high in cities, while other items are much cheaper than in the past. Energy is cheaper, gasoline, and food are not too bad compared to increases in the past. So, there is little inflation throughout the economy, but real estate asset inflation is disturbing.
Accounting Gimmicks Won’t Stop The U.S.A. Titanic From Sinking
I don't believe that social security should count against the deficits. JMO, Steve. I also believe that Japan has shown that the central bank can neutralize fiscal debt. I support helicopter money or the 100 year bond, as a way of circumventing immediate debt.
The New 2017 Banking System
Perhaps the Indian experiment in this madness will give other nations pause.
Beyond Brexit: Case Against The EU
I can understand why Europe wants younger people. They do not want to be Japan. But the best reason for brexit is currency freedom.
Denialism On Trade
Hope fully the world will not so hate Trumo that they refuse to buy the additional exports. Trump has given them reason to hate him.
"Guilty, But Not Punished": Another Banking Criminal Let Off The Hook
Will Rogers said to the bankers that there would not be enough people to pick up the bodies if bankers were terminated. That was before the Great Depression
Italy Slams ECB For Revealing It Has A "Bank Run" Problem
I can't imagine that the ECB had to report this. Can you imagine the Fed reporting the money market run in the US in 2008? Italy should just get out of the Eurozone. It is obvious that the ECB and the Bundesbank are joined at the hip.
The Latest UN Security Council Condemnation Of Israel – A Little History
Good point Dragan, what Americans did to the native Indians here was at least as bad, maybe worse. However, no one is saying that Israelis should leave the middle east. Just work out a two state solution. The idea of manifest destiny was strong in the US and is strong in Israel. It wasn't right to destroy Indian rights and it isn't right to steal land that belongs to the Palestinians. I remember my adopted mother receiving payment in restitution from the state of California for being part native American. America acknowledges the injustice against native Americans. I don't think Netanyahu has ever felt that compassion.
Not So Fast On Banking De-Regulation
This is a sobering article, Lorimer.