Wheelock, The fresh new Federal A reaction to the home Mortgage Worry: Training on the Great Despair, Federal Put aside Financial regarding St
33″> This new 1970 federal constitution to the Government Financial Mortgage Business limited stockholder control of your own firm with the 12 government house financing finance companies. After, in the 1989, Congress revised new rent in a fashion that this company you may raise financial support by way of non-voting preferred stock and you may voting preferred stock. Emergency House Finance Work off 1970, P.L. 91351 301310, July twenty four, 1970, (accessed ), and Loan providers Reform, Recuperation, and Administration Act out-of 1989, P.L. 10173 731(d), August nine, 1989, (accessed ).
35″> Brand new You.S. Treasury keeps $72.cuatro billion worth of older-preferred shares and you will $14.step one million during the prominent offers away from stock when you look at the Freddie Mac computer, while the business needs within the inventory buy agreement in order to disburse returns on the older-prominent offers stored because of the You.S. (suite…)