Remove Accountability Remove Government Employee Remove Supervision
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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)

Today, agency MBS outstanding is about $9 trillion, two-thirds of all first-lien mortgage dollars, while bank-held mortgage loans only account for $2.6 However, the FHLBB was eliminated by Congress in 1989 due to its failure to adequately supervise the safety and soundness of the Federal S&Ls that it also regulated.