The former head of the Federal Home Loan Bank of Chicago has an idea about how to privatize the housing GSEs, and it starts with the FHLBanks. According to Alex Pollock, who stepped down from his post in June to assume a research position at the American Enterprise Institute, the FHLBanks need to engage in open competition with Fannie Mae and Freddie Mac for mortgages. When that happens, Pollock said, the GSEs will themselves