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
Something's Up With Elon
Go with an Infiniti unless you have to have front wheel drive. A much better value than Tesla would ever be. And with Tesla don't you have to babysit your battery near your lap? Tesla is just a forerunner of the self driving car, where you won't get to push a gas pedal. Do people really want to support this Musk guy? Really people?
Russia And Robo
Putin has been forced into being a bully, because of the aggressive actions by outside NGO's in Russia. The Russian people understand that it is the globalist cabal versus Russia. The case is strong that this is the case. We are falling to an even darker and more dangerous side then even Putin. We have provoked Russia, and I think there is a mountain of evidence to that effect. Regime change is the foreign policy of the United States. It is a dangerous game to be playing with a nuclear power, however.
The Age Of Deflation & The Fed
But I agree with you that banks lend when interest rates are higher. So, banks are afraid to lend when interest rates are lower. Yet, the rise in rates will likely not be continual, or we will get a recession. We will see.
The Age Of Deflation & The Fed
Well, seems to me that inflation is caused by an increase in the money supply that goes to main street. This last increase went to Wall Street and the banks. That caused an asset inflation, but not wage inflation.
Why A Fed Rate Hike Will Almost Certainly Lead To A Recession
The squeeze is on. Wages declining while costs and housing go up.
Treasury To SEC: You’re Flying Blind On The $4.1 Trillion Hedge Fund Risks
Basel 3 is just a phony. Basel 3 was supposed to fix this. But Basel 3 is a joke, and so is the Bank of International Settlements. It talks the good fight but does nothing to fix the banks.
Millennial Regret
My parents owned their first house and were older, two generations from me really. They bought it in 1941 and paid it off in 5 years, refied to go into business and paid it off in another 5 years. Those days are gone. Millennials have seen that house values are inflated and can go down. They have seen their parents being taken to the cleaners by bankers. I loved having a stable house. It was great. You got to keep your friends. But that was then and this is now. Greed and turning houses into commodities is what ruined it for the millennials.
Beauty Makeovers And The Retirement Industry
Amazing that this article became centered on millennials. But it is understandable, because they are the future of finance and they hate all things financial, including banks. That will be a hard sell, Susan.
Carnage At The Happiest Place On Earth - Disney Down 8% Overnight
How about rotating to under the mattress?
Etsy Inc. Shares Plummet On Disappointing Quarterly Results
Even the CNBC fast traders said that the bankers got away with an IPO that was weak and was shown to be weak after they made their money.