Government and the changing mortgage structure

Cooperative nature of government- influence of pressure groups- emergencies identify problems. Credit founded upon confidence- liquidity mania- deflation cumulative- government to the rescue. Federal Home Loan Bank Board and affiliated agencies. Home Owners' Loan Corporation- emergency character- accomplishments- aid to private home-financing institutions. Federal Home Loan Bank System- government participation--advantages of membership- prestige- emergency credit reserve- supplementary source of funds- advisory services. Federal Savings and Loan Insurance Corporation- purposes capital strength- selection of risks. Local character of home-linancing institutions- lack of coördinated leadership- consequent wide diversity of practices- -recent attempts at standardization. Federal savings and loan associations- composite character- participation by government- influence of federal associations. American tamily institution- interest of government therein. Security of investment versus encouragement of home ownership-encouragement and protection of savings-trustee responsibilities of managers of thrift institutions. Government as collective action of individuals-extreme individualist versus extreme collectivist- continuing need for leadership- no conflict between proper individual initiative and reasonable governmental cooperation-governmental assistance to preserve individualism.