The GAO’s fact-filled, even-handed review of the FHLBanks’ role in last spring’s regional banking crisis has been used to justify arguments by both critics and supporters of the banks.
FHLBanks and housing advocates square off over issues, such as the banks’ mission, how they benefit housing finance and, surprisingly, whether they receive a federal subsidy.
Despite the added cost and delay, Hamish Hume said it was advantageous for the plaintiffs’ team to have to hold a second trial after the first one ended in a hung jury.