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
less
Latest Comments
Lumbering Along
China bailed us out of the Great Recession. What happens if they don't help as much now?
A Win For Monetarism?
This Fed move frees up for a jobs boom. It probably is the right thing to do, but will divide America more regarding asset inflation.
Fed's New Policy Will Compound Its Errors
Scott Sumner doesn't care how much wider the divide between rich and poor becomes. He loves this change. Maybe, somehow, it could bring greater overall prosperity but that will have to play out.
US Coronavirus Outlook
Trump has always said, less testing, less virus. He is a virus.
US Coronavirus Outlook
You can't defend Trump. He did nothing after banning Chinese flights. If he knew so much, why did he back off? Don't defend the clueless.
Stock Market Review - Good News And Bad
Colorful and interesting article!
Is Steve Bannon Doing China A Big Favor?
Update 12: Steve Bannon has been arrest on charges that he defrauded a crowdfunded account through stealing money designated to wall building. While this is just an allegation, it is what happens when we have common thieves planning American policy. The farmers were victims of Steve Bannon. The economy is tanking because Bannon wanted big tax cuts for the rich along with racial division and harsh destruction of free trade. The pandemic magnifies those Bannon failings.
The Cost Of Our Coronavirus Insanity
Just take it from the military or from those who benefited at the top with tax breaks. Take it from the Fed who says they have a big balance sheet capacity.
The Cost Of Our Coronavirus Insanity
I agree. But the problem I see with opening too soon is that the social distancing and will to wear masks erodes. You have called for an opening of society. People just don't want to wear masks if they think things are not bad enough to lock down!
The Cost Of Our Coronavirus Insanity
So thanks to no masks, Joseph, meds including my meds is delayed. This is serious for some seniors. Anti mask is a sure ticket to an explosion of cases as Fall is right around the corner. talkmarkets.com/.../trade-wars-are-killing-pandemic-cooperation