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)
MARCH 4, 2024
7 Additionally, GSE subsidies and privileges are crafted to largely avoid showing up as a federal budget expenditure, thus avoiding competing with other priorities for scarce tax dollars. As an example of their lobbying power, in 2004 and 2005 the George W. Another advantage they held was exemption from state and local income taxes.
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