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
Understanding Why The Green New Deal Won’t Really Work
It is futuristic. There are a few plants, like one near Reno, NV.
Will Impeachment Kill The Market?
But we won't win. We are in the process of losing. The customers are in China. They are upwardly mobile. We can't win.
Draghi And Germany Have A Secret Plan To Save The Eurozone
A long delayed correction. Kocherlakota was seeking negative rates not an increase in yield. Negative rates force investors to finance a government. That seems to be Draghi's goal and not only for the ECB but also for the German Central Bank. A strong Germany could mean that Germany does not fear that its banks are weak.
What The Hell Is The ECB Doing?
This is the old Kocherlakota plan. Do #MMT. Draghi wants to make Germany invincible and do #MMT. I wrote about the plan. Germany has such a surplus it may not fear its bad banks. Therefore it gives the ECB a long leash. talkmarkets.com/.../draghi-and-germany-have-a-secret-plan-to-save-the-eurozone
Trade-War Risk Continues To Rise, Threatening US Economy
Rolling out tariffs on Eurozone products when there is little growth there is pure insanity. The Eurozone needs to move closer, economically, to China and pick up the business to China that the US is losing.
Will Impeachment Kill The Market?
If Trump goes, however he goes, maybe we could leave China alone and world prosperity could return.
Understanding Why The Green New Deal Won’t Really Work
Solid article and dose of reality. However, there is one renewable that could change things, at least in some places. It is geothermal. There likely would not be a dip in production at any time. How pervasive geothermal could become is not known to me.
Trump Winning So Much It Almost Seems Unfair
If the world slows, US exports are affected. It isn't the dollar. It is a slowing. Trump wants other nations to play second fiddle, but when they do really slow, Trump complains!
Stocks Dive, Rate Cut Odds Soar, Trump Blames Impeachment
POTUS45 surely does not believe his continual lies. He does use them to bring all things back to himself. He convinces the weak that his impeachment is important enough to impact the markets!
Manufacturing ISM Worst Since 2009 On Severe Contraction Of Export Orders
Exports are dying due to Trump's trade war. But his base will never believe it.