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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Coronavirus And Trump's Clever Inadequacy
Thanks prof. We hope it hits the US in a mild way, but if it doesn't, big events should be shut down at some point.
Fed Chair Powell Issues Statement To Calm Coronacrashing Markets
Do they have a virus stopping tool in their toolbox? I didn't think so.
Coronavirus And Trump's Clever Inadequacy
Update 6: Shopping malls, large gatherings, even Trump rallies could be hit hard if the Coronavirus spreads within our borders. There is a rumor among Trump followers that the virus is the result of a conspiracy to take Trump down. Putting oneself in the line of fire, medically speaking, to take down a president is absurd. No one could want this virus to take over the USA. If Trump would have taken charge from the beginning, months ago, instead of keeping silent, he could have avoided a lot of grief.
Coronavirus And Trump's Clever Inadequacy
Update 5: China factories are up to 60 to 70 percent production. New cases are slowing in China. That is good news. Cases are increasing all over the world. Some governments are not ready. Some are. And some we aren't sure about.
Coronavirus And Trump's Clever Inadequacy
Update 4: The Trump administration has warned Dr Anthony Fauci to no longer speak about the Coronavirus without government clearance. This is desperation and damage control, shutting up scientist. Trump is showing severe incompetence with this ill timed censorship.
Coronavirus And Trump's Clever Inadequacy
I agree prof.
Coronavirus And Trump's Clever Inadequacy
Update 3: Jeff Saut is busy on CNBC restoring confidence. But it may be impossible in the face of a pandemic. He knows future losses will trigger margin calls. Henry Blodget implies markets could fall much farther, because we have only hit past October's level!
Is Steve Bannon Doing China A Big Favor?
Update 11: Peter Navarro wants the Coronavirus to result in a complete break from China. That is economic suicide: talkmarkets.com/.../coronavirus-and-trumps-clever-inadequacy
Coronavirus And Trump's Clever Inadequacy
Update 2: Israel says it has a vaccine almost ready to go. However, it may or may not work. It may be costly. It may not be available everywhere. And one wonders if this lab anticipated the release of Covid-19 by guesstimate or if they knew, through inside info that the virus would become a pandemic? If it works, those issues can be addressed later.
Coronavirus And Trump's Clever Inadequacy
Update: The governor of California has said they are monitoring 8000 people and 33 have tested positive.