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
Is Steve Bannon Doing China A Big Favor?
Update 6: I thought Trump did not need China which makes it so odd that he wants to talk with them again. Talk is good but it has not got far in the past. Will he impliment his plan or will he blink at a stock market crash? So far he is blinking.
Has Monetary Policy Come To The End Of The Road?
Fiscal stimulus as risk off is magnified by wacko tariffs doesn't make a lot of sense. Helicopter money makes much more sense.
Gifts Of Wyoming, Complicating A Simple Story About Bears
Esther needs to fortify Powell and relegate the fascist Trump to the dustbin of history before he moves all American businesses out of China. The Fed must stop Trumponomic madness. If he is out on the golf course, he is still prowling around hungry. Don't feed him!
Trump Economic Plan Revealed: What Should The Fed Do?
Update 6: Tariff man now is ordering 900 US businesses to leave China. This is the rant of a fascist dictator. I tried to warn Wall Street. Fascism does not nationalize business. It just leads business around by the nose.
Is Steve Bannon Doing China A Big Favor?
Update 5: The unpredictable POTUS45 is now ordering US companies to stop doing business in China. I have been warning that this man is a fascist dictator in training but Wall Street did not listen. This dictatorial decree could cause business to split up. There are 900 US businesses operating in China. Many would change their headquarters.
Dead Meat In Jackson Hole
Sobering article to say the least.
Trump Economic Plan Revealed: What Should The Fed Do?
Update 5: Trump has told his friends that a fun second term project would be the gutting of Medicare. That would be a reason he would embrace recession, to kill old people, many of whom cannot physically survive without Medicare. Like native Americans leaving their elderly behind, is POTUS45 delighting in the imposition of suffering on older Americans? He has already given up on the American consumer in wanting to weaken the dollar to make a few widgets.
Did The BLS Just Find The Landmine? One-Fifth Of Previously Estimated Payroll Gains May Not Have Existed
Tax revenue reveals a lot. No wonder Trump is panicking. But now he wants a recession. He says bring it on. From my hospital bed I plead for this tariff man to be reined in.
Trump Economic Plan Revealed: What Should The Fed Do?
Update 4: I thought the Fed would play down Trump. Now he wants a recession. Easier to impose fascism in a recession. That is exactly what Hitler did. He has to be removed from office by the powers that be.
Economist Lays Out The Next Step To Wonderland For The Fed
I think the Fed is more comfortable with a little deflation than it is with soaring growth. They have to protect the collateral.