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
Why Have US 10-Year Yields Risen 30 BP Since Monday?
Larry (How Low Can You Go) Summers will argue forcefully for no increase in rates just more QE and eventually negative rates in a downturn. Did you see my article, Marc? www.talkmarkets.com/.../summers-and-roubini-talk-negative-interest-rates-sound-logic-but-uncharted-waters
Yet Another Dispute Over GDP; What's Really On The Fed's Mind?
It is as good as it gets because they cannot let it overheat. Interest rates are so low that derivatives would be shattered if interest rates were raised severely. We as a nation are prisoners to derivatives a 400 to 700 trillion dollar business.
Why Stocks Could Fall 50% If The Fed Makes The Wrong Move
But QE could be deflationary. Asset inflation is simply too much for main street to handle. One other alternative is negative interest rates. That is creepy too. That leaves only one solution, just give people on main street more money.
CNN Tells Americans That The Stock Market Is Not Going To Crash
The MSM was working overtime, Michael. I have never trusted CNN, the globalist network.
It's Official: China Confirms It Has Begun Liquidating Treasuries, Warns Washington
You often write that there is a shortage of bonds as needed for collateral in the derivatives markets. China selling these bonds should be good news, and not necessarily a catalyst for higher interest rates. It seems inconsistent for the author to turn around and say there would likely be upward pressure on rates while also reporting that there is a massive shortage of the bonds.
China Stunner: Real GDP Is Now A Negative -1.1%, Evercore ISI Calculates
You can't make all the money gravitate to the top, abuse consumers with poor wages, and expect them to bail you out with a consumer driven society. Bankers do not understand how to win friends and influence people.
If You Doubted The Central Bankers’ Brave New World, You Were Right
Banks are weak. Paying them more on excess funds proves it. The Fed can't allow any overheating. It can't do Volcker or the whole system collapses. Keep the wages down for the peasants and assets like commodities high as possible. What a scam, Lee.
The Fed Is Spooking The Markets Not China
Banks are weak if you can't raise 35 basis points. Or maybe it is the Euro bank, probably weaker than ours. But any real raising seems out of the question, as it will hurt the banks even more.
Moving Toward A Geopolitical Marketplace
You have read Yinon. I am impressed. However, Yinon is not right. It is quite evil in its design. Oded Yinon is not Mr Nice Guy. Trust me, I know from personal experience.
The Best Argument For The Minimum Wage Is Not Good Enough
We have a big problem in America. Retail is dominated by big stores, and they have not kept up with wages paid in other industries. It didn't used to be that way in retail. These companies can afford to pay more, and as a study on Business Insider showed, not even Big Macs would be severely affected even with a massive wage increase to 15 dollars per hour. Most are not asking for that wage, except in high priced cities whose rents are pushed up by the very investors who own the stocks of the retail companies who somehow can't pay more.