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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Coronavirus Helicopter Money
Timely article. Of course real helicopter money is Fed driven and would avoid the incredible surge in bonds that fiscal stimulus creates.
Goodbye Buybacks: Gap, MGM Halt Stock Repurchases Due To "Unprecedented Volatility In Financial Markets"
It is procyclical for banks to pull back lending to the real economy. Brown is right. Time for banks to be countercyclical. Without mainstreet, stocks could go lower.
Gainers And Losers From The Corona Upheaval
Nobody knows if this virus will die out in warm weather. It is very dangerous and our nation has a few thousand test kits. Time to shut down big crowds and we have a chance of achieving the author's goal, the dying out of the virus. But to do nothing is highly irresponsible. This is a biblical plague. It deserves respect.
Collateral, Friends
I do not understand why the Fed allowed so much crappy collateral after what happened in 2008.
Coronavirus And Trump's Clever Inadequacy
I was being conservative. I am encouraged that big gatherings are being shut down. There needs to be more of that.
Coronavirus And Trump's Clever Inadequacy
Update 9: Trump has banned flights from Europe, but with under 10000 test kits, Wall Street sees the possibility of the virus going out of control.
Why Are Gold Prices Struggling While Equities And Bond Yields Are Tumbling?
Maybe they will but we could be in a deflationary period which makes the dollar soar.
Why Are Gold Prices Struggling While Equities And Bond Yields Are Tumbling?
Gold seems to act as a hedge against inflation, but not against deflationary pressures.
The Fed’s Baffling Response To The Coronavirus Explained
Ah, Ellen. You radical. This is a great article. China's banks do not have to profit during tough times. Way more flexible than our banking system.
Coronavirus And The Empty Chocolate Factory
I don't know, Tracey. I think it is extremely powerful and dangerous. Trump has a handful of test kits. We are not prepared. I think it would stop by containing clusters and by eliminating group interactions. China did this. But who knows? The US is a sitting duck without test kits.