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Article: Are Home Loan Banks at Risk?(Federal Home Loan Bank)
- Article from:
- US Banker
- Article date:
- November 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Glen Fest
Casey Research in Vermont specializes in investment advice for precious metals and energy. But its chief economist and editor of the firm's cornerstone newsletter, the Casey Report, stirred up a small tempest in financial circles this past summer when he raised questions about the soundness of the Federal Home Loan Bank system.
Bud Conrad, who comments on Federal Reserve policy and other macroeconomic issues for Casey, published a research note warning about the dangers of toxic mortgages and mortgage-backed securities on the books of the 12 Home Loan Banks. After thumbing through the second-quarter report on the banks' combined ...