FedFin: Buying Freddie?

2023-06-22T16:48:36-04:00June 22nd, 2023|The Vault|

A Bloomberg article tells a fascinating tale of high-flying personal real-estate investment and other alleged acts of self-dealing at the expense of the seemingly-hapless Federal Reserve Bank of San Francisco.  Internal controls may come and go, but the striking policy take-away from the reporting is that Bank employees launched a credible Home Loan bank System effort to acquire Freddie Mac.  What next?

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