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
Fiscal Stimulus Doesn't Require Big Government Or Budget Deficits
It still was not a big enough refund to the people of Hong Kong. Central bankers can give away far more money than that, and that would stimulate economies. The would be real Helicopter Money. With the Coronavirus cutting supply and demand, we need a real helicopter money more than ever.
Economy In Solid Shape To Handle A Coronavirus Shock
The real world pandemic could still take down finance and markets. We should not celebrate yet.
COVID-19 In China Is A Supply Shock To The World
Very helpful.
Ten Plagues
It is absolutely a fear because apparently people without symptoms are infecting people which means cities could be cut off the world over.
Ten Plagues
Fascinating article. According to DNA I am not a firstborn son, but as an adopted son I am first adopted. Hopefully the plagues will back off but they certainly are a major threat to world prosperity, being amplified by the Genius in Chief's trade war and general worldwide slowing.
Coronavirus Continues Its Reign Of Terror
I had a nightmare about the virus. The truth is scientists do not believe it will stop spreading. Bankers and financial types are not believing the scientists at this stage. While I hope the scientists are wrong, they are the experts.
Why Americans Want Socialism
I doubt if the Fed will ever offer the real fix that would avoid socialism such as redistribution of profits. That fix is Helicopter Money. That is a one off large gift to every citizen from the Fed balance sheet.
Meng's Arrest Vs. The Rule Of Law
It is possible, but the US government has provided no proof and some agencies have denied there is spying. The world does not believe the USA which looks more and more like a fraudster government.
Was It A Midpoint And Did We Already Pass Through It?
Trump panicked. He said the US was open for business. Maybe he just should not have created the trade wars!
No Recession Warning Now
Stocking shelves is not exactly insuring end demand.