Summer’s Over

Last week marked the end of meteorological summer and this week the end of Congressional recesses and the bit of downtime global and U.S. regulators and other officials allow themselves.  We’re gearing up for a busy session ahead of the midterms in which U.S. regulators will try to finalize as much as they can as fast as they can to avoid political obstacles should the GOP gain Congressional control and members of Congress position bills for possible enactment in the lame-duck or, should anything occur before then, as riders to a must-pass bill.  Last week did include an important announcement of a new initiative assessing the future of the Federal Home Loan Banks which, as we noted, raises big issues about a little-noticed GSE with big implications for housing policy, funding strategy, and much more….