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
"Century Of Humiliation" Complicates US-China Relationship
Sorry, Joel, I have to disagree. The US is not even the captain of its own foreign policy, except for Iran. The US does what it is told by the globalists and that is why we have a mess in Syria. Yinon should be studied. It is not a good doctrine. We rarely prop up governments, we mostly cut them down and break things. And that, of course is what Yinon called for over 30 years ago.
"Century Of Humiliation" Complicates US-China Relationship
America only has one foreign policy, and that is of regime change. The sooner the Chinese find that out the better prepared they will be.
The Second Bullard Rip-They Do Ring A Bell At The Top
The Fed and globalist leaders will talk up positive rates until they go negative and push seriously for a cashless society. Then most people will be totally screwed. The only option is to stop allowing long bonds to be used for collateral for any derivatives swap.
Chart Of The Day: Millennials Are Still In The Boomers’ Basements
Women got hit hard and had to move back with parents. That is a bit surprising because they have more job opportunities, but with high real estate and rent and low wages this was inevitable. The investors can't have it both ways. They can't fail to pay wages and bid up real estate at the same time and expect a different result!
Are Bernanke And Yellen Charlatans Dangling The Carrot Of Prosperity?
Correction to the article: Banks generally take the low floating side of the interest rate swap they issue with loans. The borrowers take the fixed higher interest side of the bet. Interest rates generally must stay low to protect the big banks in this situation. The article said "fixed low" when I meant "floating low".
Millennials Surpass Boomers: Why Are They Still In The Basement? Eight Reasons; Attitudes And Pendulums
Bankers think that people will just keep taking abuse, and are perplexed when they decide to stop and get out of the areas that have worked so well for banks over the years. Millennials hate the idea of long loans and bankers are furious at them. Well, too bad. You should have thought of that before you decided to rip off their parents.
Fed Opens Negative Interest Rate Pandora's Box: What Happens Next
Ultimately, it will backfire, and people will boycott all things financial like they never have before.
Yellen Is Trapped In The Worst Nightmare Ever
Very disturbing information that the general public does not understand. The Fed seems to want to raise rates, but is falling into the negative rate trap and the cashless society trap. Yellen and Carney have both central bankers and economists openly opposing their desire to raise rates and want them lowered.
How We'll Capitalize On Fed Cowardice
With the manipulation of treasury bonds and use as collateral demand ever increasing, we have to use junk bonds to tell how things are going.
Bank Of England Economist Calls For Cash Ban, Urges Negative Rates
I warned a long time ago that Bitcoin was likely to be the NWO currency. Looks like that could be.