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The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 2)

The Stoop (NYU Furman Center)

It did so, for example, in 2004 to cover the budget year 2003, when its estimate was $3.2 billion of losses by just four of the FHLBs in 2009 and 2010. 19] See CBO letter to Senator Richard Shelby dated April 8, 2004. 19 That was a very significant amount 20 years ago. billion for fiscal 2024.

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The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 1)

The Stoop (NYU Furman Center)

As an example of their lobbying power, in 2004 and 2005 the George W. In 2003, Franklin Raines, the highly visible CEO of Fannie Mae at the time, received compensation of $17.1 19] It peaked in 2004 at just over $1.6 25] He resigned in 2004 due to accounting irregularities. [26] 24 Excessive executive compensation.

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