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
The Back Rent Problem Won’t Hurt The Economy
Some. But not all.
The Back Rent Problem Won’t Hurt The Economy
Back rent is one of many problems facing the nation. It does not exist in a vacuum.
The Optionality Of Inventories
Disinflation is a hard mule to move. Seems like there is weakness and strength depending on where you look. Nurse wages are soaring. But whole industries are suffering. The future power of the virus may determine the success or failure of our economy.
We Are Suffering Through The Most Painful Economic Crisis Since The Great Depression Of The 1930s
Very dreadful news. It is mainly the Republicans who are dragging their feet in this pandemic. Even Mitt Romney played down the economic crisis of the pandemic. If Mitt can't see the distress our nation is in trouble.
Small EU Firms Hold Mountain Of Debt, Could Be Next Major Headache For Banks
Credit will have to be extended even further. Small biz going out of business will hurt society in the long run.
2020: The Year Things Started Going Badly Wrong
Population control can go terribly wrong. Genocide is usually the final solution.
2020: The Year Things Started Going Badly Wrong
That transfer of jobs to the US is unlikely. We can hardly make facemasks.
2020: The Year Things Started Going Badly Wrong
We are down to one growth nation. China! Perhaps we shouldn't keep trying to destroy that growth. We need China.
No Sharp Turns From China’s Potential
Compared to the rest of the world, China is booming. It isn't great, but is relatively ok.
Banana Republic
Well, I don't see money as being fake as long as it is backed by bonds as collateral. Also, no music is played when bonds are issued. Also, interest rates are too low anyway.