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
The Ghost Of Failed Banks Returns
Chilling. And brilliantly written.
Stocks Sink As Trump Threatens To Delist Chinese Firms
This is not the first we have heard of this. It is potentially very serious. Trump wants a cultural divide. Now that he will be impeached, he wants his base to save him and this panders to his base.
"She Said, He Said" Moving Markets
The sad thing is that Wall Street wants Trump at all. He is slowly destroying the US economy. He cannot win the trade war. He is a walking disaster and Wall Street is bothered about impeachment talk? Crazy.
In Trade-War Win For Trump, Apple Will Make New Desktop At Texas Factory
How can this possibly be affordable?
Why Did The Fed Turn Dovish? Not Just Trump
Thanjs for the encouragement! You noticed that Powell says that financial stability vulnerabilities, which really means financial instability vulnerabilities are moderate! Not minimal. Moderate. And this is before the recession.
Watching Paint Dry In The Repo Market
MMT and UBI are not technically helicopter money as put forth by Eric Lonergan. But this is an interesting article!
US-China Trade Back Ruling Markets
The markets should be ruling Trump. But that is not happening because they are way too optimistic.
"Simply Awful": German PMI Plunges To 7-Year Low As Manufacturing Recession Accelerates, Spreads To Services
Violating laws that are US laws is a problem with our laws. Trump called for US companies to leave China. China has every right according to international law to require IP sharing as a condition for doing business in China. Our companies can all stay home. Play by the rules of the world's largest economy by PPP or stay home and shrink your own future.
"Simply Awful": German PMI Plunges To 7-Year Low As Manufacturing Recession Accelerates, Spreads To Services
In my view, China is more free trade than is the USA. The USA has passed laws regarding intellectual property that are not international laws! These laws will put the USA into a huge disadvantage as they almost guarantee isolationism.
"Simply Awful": German PMI Plunges To 7-Year Low As Manufacturing Recession Accelerates, Spreads To Services
Germany might want to hitch its wagon to China before things get much worse.