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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Market Briefing For Thursday, March 12
I agree Gene. Lock stuff down now. Waiting may make things much worse.
(Almost) Everything Sold Off Today
Crap collateral sounds familiar. 2008 repeat.
Coronavirus And The Empty Chocolate Factory
Update 2: NBA stops season. Tom Hanks has Coronavirus. Trump stopped flights from Europe. I think flights should be banned for at least a month in the USA. Trump must now know that this virus is more dangerous than the flu, especially if it clusters. He has been lying about it for two weeks. America does not have enough test kits. Only 5000 out of over 300 million tested!
Coronavirus And The Empty Chocolate Factory
A company in Seattle was testing for the flu. It offered to retest for Coronavirus and was forbidden from doing so. The people who blocked this company should be criminally responsible.
Low Rates As Chaos, Not ‘Stimulus’
Banks want cash, not negative yielding bonds from a bunch of hedge funds. But lending out that cash with low rates can't be comfortable.
Market Briefing For Tuesday, March 10
Gene, this is an incredibly sober assessment and the argument is strong that we need more tests and fast. And then we need a plan to stop the clusters. These are sad times indeed, but a mustread article.
Coronavirus Panic: Time To Chill, Breath In And Breath Out … And Consider The Facts.
Tucker Carlson said Coronavirus is much worse than the flu. I saw where a 32 year old medical worker has it and says it is getting worse. He had no underlying medical condition.
The Coronavirus An Economic Perspective!
Apparently even Tucker Carlson believes it is far worse than the flu. A 32 year old medical worker with no underlying illness says it is horrible as he cannot heal.
The Fed Can “Fix” This, Right?
Most people in the Greatest Generation including my adoptive parents had absolute respect for FDR. Good article though as the Fed loves speculation too much.
Coronavirus Panic: Time To Chill, Breath In And Breath Out … And Consider The Facts.
No need to panic. Just don't fly and avoid restaurants if you can. And don't go to big events. The media is better than that congressman from Florida who wore a gas mask making fun of this biblical plague. He is in quarantine right now!