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
Technically Speaking: The Risk To The Bullish View Of Trade Deal
Trump would like to win the next election and divorce China. If he wins, the stock market is in grave danger. He may rope a dope until next term. Or he may resign. At that point it is unlikely that Pence would win. But some Democratic candidates are caught up in the trade war mania too.
The Delisting Threat Might Backfire: Yuan’s On The Road To Become A Global Currency
Fascinating concept for the future.
As Dollar Reaches Record High, Trump Slams "Clueless, Pathetic" Fed
Zero rates will destroy the banks. The Fed does not want to go there. Of course a big recession could cause bank troubles too. But clearly, Trump does not have a point. He could have helped the USA consumer with a massive middle class tax cut. But he helped the wealthy instead. But trickle down doesn't work without better productivity growth and stronger end demand. It only worked for Reagan.
The Markets Care About One Thing When It Comes To Impeachment
Well, no. Yes he is quirky. He has some odd and objectionable views. But he is quiet. Calm. And, except where Trump has corrupted him, professional. And besides, if he deserves impeachment it can be done!
The Markets Care About One Thing When It Comes To Impeachment
Interesting article. Impeachment could enable a compromise with the Chinese. Trump is a growth killer. Maybe Pence would be more pro growth.
Goldman Struggles To Shed 'Vampire Squid' Reputation As Retail-Banking Push Falters
What goes around comes around. Great to see people remember.
Dissension Within The Ranks Of Central Banks
Banks in Europe have been hurt by negative rates. The ECB is massively conflicted for sure. And we are barely positive. So the Fed is conflicted.
Canada's Job Creation Still Unusually Strong
The Canadian crash could be massive, prof. Your banks should not trust anyone else.
An Obligatory Market Commentary
This article puts way too much faith in US foreign policy and tariff wars.
Three Things I Think I Think – Impeachable Ideas
Clever article. Can't agree with number one because people who do not want to invest in what they consider immoral simply do not want to derive pleasure from those companys' successes. The second point is true. That is because banks are procyclical and restrict lending when times are bad. The third point is true. Getting rid of Trump and his tariffs would make Americans a lot richer!!