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 Trump-Xi Trade Deal Would Do Little To Fix The Real Problems US Companies Face In China
This is a bit of sour grapes, imo. If a company wants to prosper in China they have to play by the rules.
BIS Warns "Slowdown Is Worsening And Spreading" As Central Banks Run Out Of Ammo
If central banks are running out of bullets, and the world economy is slowing, it is time for helicopter money.
Are You Prepped For Better News In H2 2019?
Hi Seth, so far, at the G20, Trump backed off new tariffs and Huawei. He went against his long held beliefs about tariffs. He abandoned his view that trade wars are easy to win, for now. He adopted pragmatism for now. If he wins the election, would he revert? I don't know.
Passenger Drones Are Almost Here
You hit it Bill. Who would separate all this, and how could all this junk in the sky be safely separated?
Winners And Losers In The US-China Trade War
We can hope Trump moderates as he has shown a willingness to do so with Huawei. But the author here is right, Trump's steel tariffs will continue to inflict damage on America and North America.
Passenger Drones Are Almost Here
Fascinating, but they look risky, dangerous, even.
Market Briefing For Monday, July 1
Nice analysis, but Trump's "show of good will" was based on the fact that Trump never bought the spyware-in-the-cellphone scare. There never was any proof. Trump is still a bully, and it will leak out elsewhere. But he has a thimbleful of common sense when it comes to China. It isn't easy to win a trade war against a nation that makes 5 times as much stuff as we do, that has purchasing power parity making China the largest economy in the world. Donald Trump blinked because he had no other choice. He did the right thing this time.
Halleluiah! Trump Says Trade Talks "Back On Track"
Trump caved for the good of the nation. He still is an odious vile human being in his continued disgusting behavior toward allies and US citizens. Fortunately he has an ounce of pragmatism. He went against Bannon and his own moronic ideology so who knows how long this truce will last.
Tariff Man Trump Fooled Wall Street From The Start
Update 6: Trump #blinks for the good of the nation. He put the nation before #tariff mongering ideology, for now at least. #G20 may be a win for America after all.
Meng's Arrest Vs. The Rule Of Law
Update 11: The world is not out of the woods, because of Meng. But Trump never really saw Huawei as a big security concern. That is a good thing, as it allows US companies to continue to sell to the cell phone and 5G innovator. The tariff truce is based on pragmatic necessity and could save our relationship with the largest middle class in the world, the Chinese middle class. Trump is eating humble pie for the good of American prosperity. I didn't think he had it in him to do so.