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
Hong Kong’s Choice Between Hope And Despair
It is unfortunate that the derivatives world has helped to insure greater inequality, which will eventually reach dangerous levels. I still hold out the hope for helicopter money to rebalance the economies of the nations: www.talkmarkets.com/.../helicopter-money-is-being-misrepresented-by-bill-gross-and-others
"We Won't Be Lectured" - Italy's Renzi To Defy Brussels Over Banking Bailout
Sovereignty once again trumps a multinational currency. And no, I don't like Trump. I can see the pros and cons of private bailins versus public bailouts. Unfortunately, depositors who are not informed are often victims. Perhaps no bailouts of any kind would be the best way to go.
Something Huge Is Coming From Japan
Lol, yes, meeting the budget by selling bonds with negative interest rates will make the Japanese government very happy. Not sure about the economy as a whole long term. But I think Draghi wants to do the same thing. Banks come first, and the economy is just secondary.
The Vanity Of Central Bankers And The Common Sense Rule
Well, negative bond rates are constitutional because, unfortunately, bonds are government issued securities. As for negative IOR, or some stimulus, they could help, but the Fed doesn't want too much stimulus. There may be constitutional issues regarding negative IOR but I don't know, Moon.
Economics And Migration
I believe a nation should care for its people. If you don't put some controls on capitalism it will result in a weakened society, Rolf. :)
Economics And Migration
Open borders are just good business, not so good for the working guy.
Did She Say QE 4?
We need real #helicoptermoney because #QE is incredibly fiscally irresponsible. It is interesting in your article, that negative was once thought of being a stimulus, and now it is just a way for governments to collect taxes off poor bond holders.
I Am Going To Stop Writing The Word…
The #Fed cannot allow inflation, because it no longer has the tools to stop it. Can you imagine a Volcker raising of interest rates. The entire gazillion dollar derivatives market would fold like a big tent.
The USA Snail Economy
The Fed has us just where it wants us, with a slow economy, so interest rates won't ever have to be raised significantly.
Who Will Be The Next 'Exit'?
I am not familiar enough with European right wing groups. No, I would have voted for Brexit and I am not a racist!!! But unfortunately, Trump and others have used racism as a means to tout sovereignty. They don't know real sovereignty is one of mutual respect.