Monday, March 28, 2022 11:16:10 AM
Here is the last paragraph of the CBO Report:
In addition, changing the federal government’s relationship with Fannie Mae and Freddie Mac might prompt an
assessment of the government’s relationship with other
government-sponsored enterprises that support mortgage
lending. Those other GSEs include the Federal Home
Loan Banks, which make low-cost loans to their member
institutions (such as commercial banks, credit unions,
and insurance companies), and the Farm Credit System,
which provides financial assistance for rural mortgages
and other loans guaranteed by the Department of
Agriculture
It is forseeable that a financial crisis could emerge in the Farm and rural economy as happened in the Stagflation environment in the 70's. There is too much commodity risk for most farmers to manage through high interest rates for operating loans and equipment financing and high energy costs that will impact fertilizer, transport and equipment operating costs. Will a future Administration use the GSE resolution as a way to Nationalize the farm credit system and reallocate wealth and priorities along woke and climate change priorities? What you are proposing will make a great playbook for those who want to do so.
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