The FHLB and the Federal Home Loan Board

The FHLB system has come under fire in recent weeks for loans made to now collapse financial institutions. Those loans came with favorable interest rates due to implied US government backing, despite the banks being cooperatives owned by financial institutions. This is kind of they're injecting this to make it political. It's not political. They're bearing a lead here. But let's look at this concerns a new paper from Jim Parrot and Mark Zandi.