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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 GSEs, they were highly limited in their permitted activities but given a preferred market position, along with the subsidies and privileges needed to deliver a public policy benefit to the public. As an example of their lobbying power, in 2004 and 2005 the George W. 19] It peaked in 2004 at just over $1.6

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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)

More recently, as part of the FHFA’s review, its director said in public that the FHLB System did benefit from the implied guarantee, saying out loud what everyone already knew. It did so, for example, in 2004 to cover the budget year 2003, when its estimate was $3.2 19 That was a very significant amount 20 years ago.

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