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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PIMCO’s Take On Puerto Rico’s Debt Crisis
I thought all Rhodes led to the NWO, but apparently Stephen Rhodes has other ideas. He didn't give Wall Street a whole lot in the Detroit bankrupcy.
The Swiss National Bank Is Long $94 Billion In Stocks, Reports Record Loss Equal To 7% Of Swiss GDP
This is hilarious. So, the Fed owns shopping centers and the Swiss own a bunch of potentially worthless stocks that make up 17 percent of Swiss GDP? That is a hoot. The central banks are starting to carry their arrogance to levels never seen in the history of mankind.
The “Worst Recovery” In 70 Years ???
Well, I always thought Hoover Dam was an example of government competency. Perhaps Friedman didn't venture out west much?
Goldman Warns "The Global Economy Is Going Round In (Smaller & Smaller) Circles"
These cycles were already pretty short starting with the dotcom bubble, to the housing bubble to the new housing bubble. So, those were 10 years or less. Are we looking at 2 year booms and busts?