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
Can’t Get Enough
I would not ordinarily care for pushing up asset prices, however, we are closing in on negative interest rates. So something has to be done to get us off the mat here. The "free market" leading us to a cashless society would not be good.
Gas Isn't Even What It Cost In The Great Depression: It's Less!
My adopted dad was old enough to be my grandfather. He lived through the Great Depression. Housing was dirt cheap. Now it isn't. Something has to give there in today's economy, Rodney to even things out. I would say electricity is probably a lot higher as are the prices of cars, now.
3 Charts Every Investor Must See
The Fed should already be buying non financial assets, to try to kindle a little inflation or we are deflation bound. That would be ok if interest rates were not scraping the ground. But they are scraping the ground and deflation is dangerous in this environment.
The “Black Swan” Solution To Our Energy Problems
Wow, the US will do anything to destroy Russia and start WW3. But bringing jobs home to protect patents makes sense. Interesting article.
The Dow Falls Another 364 Points And We Are Now Down 2200 Points From The Peak Of The Market
It is always amazing to me that empowering the American consumer continues to crush the stock market.
3 Charts Every Investor Must See
I don't think they can turn junk into gold when oil is collapsing. This could cause a credit crisis.
Yellen Could Pave The Way For Hillary With More Easy Money
Republicans have no power over the Fed either, Peter. Seriously, do you think they do?
Why Recession Is More Likely Than You Think
Growth seems to be slowing. The Fed will ignore it to our peril.
Gold Daily And Silver Weekly Charts - Utopia For The Paper Gold Alchemists
Curious to see if new demand for gold in derivatives markets, as collateral, is significant.
Financial Fridays: The Stock Market Is Bullsh*t
So, are we in a tight money scenario, James and don't know it?