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
EU PIIGS: Are These 10-Year Sovereign Bond Yields Either Warranted Or Sustainable?
Yes, if the Eurozone goes, what will become of our beloved ECB? I can't see the powers that be letting the Eurozone totally fail. But this is an interesting article.
The Fed Doesn’t Own A Helicopter
Lol, it was the government that issued the stimulus checks. Nice article Cullen. But some say that government has lost the will to do fiscally sound projects to get America going again. All the budget goes to the military which does offshore activity.
The Real Reasons World Governments Want A Cashless Society
And as far as fiscal responsibility, in our upside down system of derivatives, we actually have a shortage of treasury bonds as collateral. So, unless bonds are uncoupled from derivatives and collateral, they will want to issue many more of them.
The Real Reasons World Governments Want A Cashless Society
Welcome to Talkmarkets. Glad you wrote this article. I have mixed feelings about a gold backed system. First not enough gold. Second, they always reduce the gold in the money anyway. So, I am not totally against a fiat system as long as we don't break the zero lower bound. The NK's must be stopped.
The Best Investment When The Fed Turns To Negative Interest Rates
Actually, hold cash as well. It can't go below zero, unless the Fed unleashes abnormal policies like the elimination of cash. I doubt if demand for loans will be great as people feel poorer as negative rates intensify. Not sure that will end well.
Chart Of The Day: Negative Interest Rates On 40% Of European Government Bonds
Scary. Now, some is a function of a slow economy but that can't be the entire explanation. Massive demand for bonds could explain the issue.
The Fed Reserve Rate Hike And Beyond
If people were not in so much debt in dollar denominated loans, a little rise in rates would be good. It would be a sign of prosperity. Unfortunately, long bonds have so much artificial demand that they may not go up much in yield even in times of prosperity.
My Unconscious Warren Buffett Investment
Taking a little risk at the bottom might be a sound strategy.
Real Estate In Decline
Still pouring money into parts of Los Angeles, like Manhattan Beach, etc.
Foreign Officials Sell A Record $48 Billion In U.S. Treasurys In December
And yet, massive demand for long bonds continues.