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
less
Latest Comments
How Big Will The Fed Rate Cut Be?
The Fed is not in the habit of shooting all its ammo before a recession starts. Maybe it should or maybe it won't do any good anyway!
The PBOC’s Involuntarily Enormous Bet
Fascinating article which may explain why China is going all in on coal even more than solar and wind in China and BeltandRoad. Grow energy in Asia and you create prosperity.
Market Thoughts: Silver And Gold Are The New VIX
Clever market analysis.
Why The Bank Of Canada Resists Signalling Rate Cuts
Canada is like the USA. It really can't trust tariff man. Canada needs to test a bilateral trade pact with China, and dare Trump to respond. Already the cost to build houses partly due to lumber issues is destroying the US housing market in secondary cities, step by step.
The Calm Before The Storm
Sobering assessment of history.
Mark Cuban On Trump, Breaking Up Facebook, And Antitrust
People voted for Trump because they were hurt by Obamacare taxes and because they were hurt by slowing industrial production. They believed him, even though he is constrained by reality. However, since this article was posted, Donald Trump has been exposed as a racist and and the Republicans are silent with a few exceptions like Anthony Scaramucci who said if this racism continues he will not be able to support Donald Trump. More of that needs to happen because the Republicans party leaders look spineless.
Ticked About TIC: The Accidental Discovery Of Perhaps The Big Bottleneck
Bond market is worried when additional collateral is required. Jeffrey is trying to figure out why extra collateral is needed. It can't be good.
25, 25, 25, Do I Have 50?
Good point. Better than expected overall, yet housing is weak. Perhaps there is an expectation of lower rates that is freezing buyers.
The NBA Is A Talent Driven League And That Is A Great Thing
I am a fan. I miss the days of Magic and Bird, extraordinary legends of the game. But it has been fun watching the great shooters of the past few years, and each team has won championships with different talents. Spurs could pass, Mavs could shoot, Warriors could shoot and play defense. Cavs had Lebron's power basketball. Raptors were more traditional, with good inside and outside play.
World's Largest Supplier Of Consumer Goods Warns Chinese Factories In "Urgent And Desperate" Shape
So, Chinese factories are in desperate shape but really US clients are very worried. China won't help the USA this time around.