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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The Case Of The Disappearing Fed Funds Market And The Reappeared Half Trillion
Regardless of whether this was a real meltdown or shell game, the fact that the Fed cannot control rates in the old fashioned way or any way is true.
Greek Cash Ban Escalates: 'Permanent' Stricter "Capital Controls" On 3 Million Pensioners, Civil Servants Imposed
If the private business owners are the ones dodging taxes, this imposition on the pensioners and civil servants makes no sense at all.
Three Things I Think That I Think – Stopping The Next Crash Edition
Securitization of bogus AAA rated bonds led to the crash. Securitization would not have happened without massive deregulation. Lending standards were lowered because the bankers and central banks came up with a formula saying that all mortgages could not crash at the same time. That deregulated shenanigan resulted in mispricing risk, which would likely not have happened if deregulation had not happened. papers.ssrn.com/.../papers.cfm?abstract_id=1367973
Top 0.1% Of US Households Own As Much Wealth As The Bottom 90%
But it isn't Keynes. It is the laws in place to allow all the stimulus to go to that.1 percent instead of lending to the people. And of course, they do that because they must have low interest rates.
Why There Will Be No 2016 Social Security COLA
So, is there a zero bound there or will people have reduced social security in the future? We can see where it all is going with the red line.
The Mindless Stupidity Of Negative Interest Rates
So, the banks want, or Larry Summers wants for the banks, to hold deposits hostage by creating a cashless society. That will surely wreck main street and anyone who falls of the digital money grid. It is all rational, rationally insane, that is. www.talkmarkets.com/.../millennials-need-to-wake-up-about-derivatives-and-the-cashless-society
Looming Court Decision Could Hasten Pop Of Student Loan Bubble
Schiff must still believe Rogoff, the 90 percenter.
Contained… Just Like Subprime
I have been to a Container Store. It wasn't busy. Probably would do better if more houses were being built.
Did The Fed Just Guarantee New Lows In Gold?
We could follow Europe into negative interest rate territory and that would be terrible. But author is correct, Eurozone is weak and China is slowing and Brazil and others are suffering.
Bernanke’s Balderdash
I am no fan of Germany. Germany treated Greece like crap and German cars are rigged to avoid smog tests. Very unethical nation. Germany exported easy money to other nations which is why Deutsche bank tanked today. Keynes would work if the money didn't go to asset speculators.