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.
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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.
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Latest Comments
Goldman Shares Slump As DoJ Demands Guilty Plea In 1MDB Case
Goldman breaks rules in so many places so many times. It is a wonder they still rely on the defense of rogue bankers.
On Inflation And Interest Rates
Inflation is not a serious problem for the reasons the author points out, but future growth is not guaranteed either.
Sensex Ends Marginally Lower; Banking And Automobile Stocks Witness Selling
In times of potential trouble, Asia must continue and increase economic cooperation.
Investors Appreciating The Dollar
Fascinating article. I wish the author would have explained why the dollar would weaken in the face of a trade deal when an effective trade deal for the US could weaken China. China cannot continually experience slower manufacturing that a "win" for the USA could bring.
The Eurodollar, Unfortunately, Is What Is Rebalancing China’s Services Economy
This is a must read. The thing China has going for it is purchasing power parity. As the world slows, Asia is still attempting to move forward. Cooperation between Asian nations is crucial at this point forward.
Shoot To Kill: Power, Precision, Sufficiency And The Appropriate Target
The Fed certainly has to factor in Nominal GDP because it can slide while inflation is strong, for a time. And the Fed must hope that the world economy, especially China, stay strong, because the stock market depends on it. The Fed could be loose monetarily and if China wobbles, still lose the stock market. I wonder if Trump gets that. I hope so.
US Consumer Spending Flashes An Alarming Call To Action
Or, we could increase economic activity by helping our neighbors with infrastructure, not money, and earn our pothole repairs. China is doing just that.
Belt And Road: The Sri Lanka-China Port
Condolences to Sri Lanka, a nation with problems that surely pines for peace among its varied peoples. Hoping the majority and the minorities learn to live in peace. Life is too short for any alternative.
US Consumer Spending Flashes An Alarming Call To Action
See also a study about purchasing power parity that helps explain the power behind the Chinese growth engine: talkmarkets.com/.../china-ppp-aiig-bank--powerhouse-economics
US Consumer Spending Flashes An Alarming Call To Action
There are some talented people who come from Affirmative Action who just need the opportunity. You think you will solve everything with tired right wing solutions. But there really needs to be more educational opportunity for more people.