A $1.3 Trillion Home-Loan System Gone Astray Is Fighting an Overhaul
A looming battle over the Federal Home Loan Banks shows how hard it will be to revamp a system that's come to benefit itself and the financial industry.
A hotel sits vacant in Mississippi after a housing partnership struggled to pull together funding to convert it into a senior housing community.
Photographer: Heather Perlberg/BloombergThis article is for subscribers only.
Over a five-course Italian dinner in Philadelphia, congressional staffers were pitched about the benefits of the $1.3 trillion Federal Home Loan Bank system.
In Washington, a trade group representing the same system hired a top lobbying firm and ramped up its spending on political influence by nearly 40%.