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
Trump, China And Phase 2 Negotiations
I appreciate your assessment, Prof!
Retail Sales Confirm What We Said Last Month - GDP Is Clocking In Over 3%
Half of China growth. Let's not get too giddy. The busiest stores are places like Home Goods. In other words, discount stores.
Meng's Arrest Vs. The Rule Of Law
Update 12: Meng has produced documents showing that HSBC knew for years that Huawei had a relationship with Iran. The documents show the relationship existed since at least 2010. Yet Meng's presentation to HSBC took place in 2013! Again, the assumption of this article is that Huawei just is a better company than American or western competition.
Playing Taps For The Middle Class
This is a sizzling condemnation of central banking. And it is well deserved. Helicopter money is the only legitimate offset. A one off assist for all citizens is true HM.
The Top 1% Are Much Happier & Content With Their Lives, Study Finds
Glad to find this out. I was worried about them.
Contingency Planning Is Essential In 2020 As "synchronised Slowdown" Continues
Interesting read! If the climate scientists get their way and a negative world GDP becomes the norm, the world will become a much more dangerous place.
Central Bankers Are Worried About How To Fight The Next Recession
This is, frankly, central banker bs. Put the cost on their balance sheet. Let them dispense helicopter money. Fiscal debt is high enough!!!
SoftBank Is No Longer Getting A Pass
Softbank would be better off investing in Asian nations that actually make stuff.
Trump Threatens Iraq's Oil Accounts If Troops Told To Leave
The US has lost sight of pragmatism as Trump has made enemies everywhere.
The Second Repo Crisis Just Days Away – And This Time It Will Be Worse
Very worthwhile.