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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. A very short synopsis is: From 2008 to 2012, the net worth of the two GSEs was wiped out by GFC-era losses. government (i.e.,

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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)

Part 1 covers some general background information on GSEs as well as the extremely relevant precedent set by the reforms imposed by the FHFA upon F&F in reaction to the most well-known case where the public-private hybrid GSE design had quite visibly flunked. As an example of their lobbying power, in 2004 and 2005 the George W.

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