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
A Cheap Value Play With A Catalyst?
Very interesting. Seems also that more sanctions could rock the middle east!
Stocks Rise As Zombie Companies Proliferate
The Fed is trying to engineer a recession proof economy. If nominal interest rates go negative it may be more difficult to do so. And real interest rates are negative and may be starting to lose ground.
Stocks Rise As Zombie Companies Proliferate
And this is a sober warning, the biggest bubble is the corporate debt of zombie companies.
Stocks Rise As Zombie Companies Proliferate
Jamie Dimon said he would not buy a negative interest bond unless forced to! The Fed has to stand its ground against Trump's negative nightmare.
Less Shine In The Sentiment Formula
Unfortunate slowing of the economy impacted by global slowdown.
Boeing Tumbles After Admitting More Delays On 737 MAX, FAA Says "No Timeframe" For Return
Boeing halted. There is no timeframe for return of the Max. This could mean the Max will never return!
Canadian Household Leverage Has Been On The Decline For A Decade
Interesting article, prof. We wish Canada well.
China’s Dilemma
The bedrock of China energy is coal.
China’s Dilemma
China knows energy is critical to future growth. New coal plants are cleaner, but still not as clean as nat gas.
The Bank Of England's Governor Fears A Liquidity Trap
I think supply side does not work when people have too little money. Excess consumption does not occur in those times. In the Great Depression, when Keynes was writing, people had no money so trickle down, then called percolation, did not work. Hoover, an intelligent man, left the presidency in shame.