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
Anxious Consumers, Stock Greed, New Normal And The Fed
That is a bit paranoid. Google and Apple denied Huawei spying back when all this unfolded. The US just doesn't want to compete. Global prosperity will be the victim. You do know that China bailed the US out of the Great Recession. If they hated us they would not have done that.
UK Grocers Stave Off Panic Buying Amid 2nd Lockdown Fears, Daily COVID Case Record Smashed
Hoarding in the UK will be hard to contain.
What Happens If Trump Refuses To Leave?
The Republic could fail if Trump gets his way.
Reaching The End Of Early Stimulus – What’s Ahead?
Brilliant but unnerving.
The Reintroduction Of Globanomics
Interesting article. Single currency would be my only concern.
Economic Forecast 2022-23: Recovery From The Pandemic Recession
Pretty optimistic for the real economy. As long as a third, winter wave of Covid-19 does not hit with force, then this scenario looks good. Otherwise, we will have big problems.
Anxious Consumers, Stock Greed, New Normal And The Fed
Update 1: The Chinese biz model of requiring partnerships is exactly what the US is doing with Oracle/Bytedance. I think it is ok to require it. However, we have to know, China is surpassing the US in many fields. This required partnership with Oracle is just one proof.
FOMC: Hope Now Seems To Be A Strategy
The Fed is not a fan of inflation. The Fed is a fan of business and government being afraid of inflation. It helps banks sell insurance against inflation.
How Successful Were Trump's Tariffs?
Radicals control US trade policy now. Security is an excuse for excluding superior competition
China’s Hole Puzzle
Does China want to gear up as in the past to bail out the USA again? Maybe not this time.