Remove 2004 Remove 2008 Remove 2010 Remove Management
article thumbnail

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 describes how the GSE design defect had very publicly manifested itself in these institutions prior to their being taken over by the government via conservatorship in 2008. It did so, for example, in 2004 to cover the budget year 2003, when its estimate was $3.2 trillion of assets) and are the most well-known and studied GSEs.

2008 59
article thumbnail

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)

4 For those who have closely followed the housing finance industry for a long time, this should evoke memories of the efforts to reform Fannie Mae and Freddie Mac (F&F) in the years before the Great Financial Crisis (GFC), and how their management teams also responded so aggressively to counter them. mortgage originations.

2008 88
article thumbnail

The GSE Conservatorships: Fifteen Years Old, With No End in Sight

The Stoop (NYU Furman Center)

Under the pressure of the financial crisis, in mid-2008, the market began to lose confidence in the implied guarantee given its informal and unwritten nature. This included: Developing an updated capital requirement broadly consistent with post-2008 bank regulatory requirements. [9] government (i.e., trillion amount.