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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. That’s because both are government-sponsored enterprises (GSEs).

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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: Inside conservatorship, circa 2016, the concept of “GSE reform via administrative means,” i.e., one that would not require legislation, was developed.