Federal Home Loan Bank System

Federal Home Loan Bank System

Author: Adam Ashcraft

Publisher: DIANE Publishing

Published: 2010-06

Total Pages: 48

ISBN-13: 1437929869

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The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied gov¿t.-sponsored liquidity facility that currently has more than $1 trillion in secured loans outstanding, mostly to commercial banks and thrifts. Documents the significant role played by the FHLB System at the outset of the ongoing financial crisis and then provides evidence about the uses of these funds by their bank and thrift members. Identifies the trade-offs faced by FHLB member-borrowers when choosing between accessing the FHLB System or the Fed. Reserve¿s discount window during the crisis. Describes the fragmented U.S. lender-of-last-resort framework and finds that additional clarity about the respective roles of the various liquidity facilities would be helpful.


The Papers of Robert A. Taft: 1949-1953

The Papers of Robert A. Taft: 1949-1953

Author: Robert Alphonso Taft

Publisher: Kent State University Press

Published: 1997

Total Pages: 560

ISBN-13: 9780873388511

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The final volume of the Taft papers This fourth and final volume of a selected edition of the papers of Robert A. Taft documents Taft's post-World War II and congressional experiences until his death in 1953. Regardless of his conservative commitments, Taft saw the need for responsible reform. In the immediate postwar years, he recognized the need for federal aid to education, for social welfare legislation that assisted the poor, and for federal support for public housing. Out of political necessity, Taft became more partisan as the 1950 senatorial campaign approached, convinced he had to win reelection in Ohio by a large margin if he was to establish himself as a frontrunner in the primary campaign for the 1952 presidential election. Moderate Republicans spurned Taft and doubted that the serious, partisan senator could successfully head a national ticket. His support, nevertheless, was essential to the 1952 Eisenhower presidential campaign. Taft's service as Senate majority leader proved indispensable to President Eisenhower during the early months of his first term, helping the president navigate the byways of the nation's capital. Even after his diagnosis of cancer in April 1953, he continued to work at his senatorial duties until he died in July 1953. This volume completes the contribution that The Papers of Robert A. Taft provides to the study of United States political and diplomatic history, Ohio history, and conservative political theory.


Debtor Nation

Debtor Nation

Author: Louis Hyman

Publisher: Princeton University Press

Published: 2012-10-28

Total Pages: 392

ISBN-13: 0691156166

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Before the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the history of personal debt in modern America, Debtor Nation traces the evolution of debt over the course of the twentieth century, following its transformation from fringe to mainstream--thanks to federal policy, financial innovation, and retail competition. How did banks begin making personal loans to consumers during the Great Depression? Why did the government invent mortgage-backed securities? Why was all consumer credit, not just mortgages, tax deductible until 1986? Who invented the credit card? Examining the intersection of government and business in everyday life, Louis Hyman takes the reader behind the scenes of the institutions that made modern lending possible: the halls of Congress, the boardrooms of multinationals, and the back rooms of loan sharks. America's newfound indebtedness resulted not from a culture in decline, but from changes in the larger structure of American capitalism that were created, in part, by the choices of the powerful--choices that made lending money to facilitate consumption more profitable than lending to invest in expanded production. From the origins of car financing to the creation of subprime lending, Debtor Nation presents a nuanced history of consumer credit practices in the United States and shows how little loans became big business.