Banking that balances public/private benefits
Washington: “The FHL banks must do more for housing” (op-ed, Dec. 4) correctly highlights the nation’s urgent housing affordability and supply challenges and acknowledges the Federal Home Loan Banks’ (FHLBanks) role in supporting housing and community development. However, it misrepresents the FHLBanks’ structure and the positive impact they have for communities across the country.
The FHLBanks are among the largest private contributors to affordable housing. Since 1990, they have provided more than $8 billion through the Affordable Housing Program (AHP) and will be contributing nearly $1 billion to housing and community development in 2024 alone, their largest ever annual contribution. The Federal Home Loan Bank of New York, for example, awarded a record $70 million in AHP grants, supporting more than 3,400 housing units this year. Beyond the AHP, the FHLBanks have launched more than three dozen new, voluntary grant programs over the past two years tailored to regional needs. Far from “hoarding” resources, the FHLBanks’ cooperative model enables member institutions to access low-cost capital, increasing housing finance. This boosts mortgage originations by more than 16%, saving borrowers $13 billion annually — precisely the benefit Congress envisioned nearly a century ago.
Importantly, FHLBanks are not government subsidized. They receive no congressional appropriations and taxpayers neither fund the FHLBanks nor bear liability for their obligations. Instead, as the Congressional Budget Office confirmed in March 2024, benefits from the FHLBanks flow to their members and then to those members’ customers. The FHLBanks remain committed to addressing housing challenges and have submitted proposals to the Treasury Department to enhance their positive impact. Mischaracterizing their role undermines their nearly 100-year record of delivering public and private benefits. Housing affordability and supply require collaboration across sectors, and the FHLBanks will continue working with stakeholders to achieve meaningful solutions for all Americans. Ryan Donovan,
president and CEO, Council of Federal Home Loan Banks
Wrong country
Oak Ridge, N.J.: So, “America first” President-elect Donald Trump and our current first lady both had their itinerary people screw up, and their flights took them to Notre Dame on Dec. 7 instead of Pearl Harbor, where they should have been at ceremonies and wreath-layings. Not to belittle 9/11, but every sitting president and president-elect for the next 100 years should be at Pearl Harbor on 12/7. Jim Heimbuch
Bad imbibe vibes
Bayonne: Sunday’s “Bramhall’s World” cartoon was not funny, calling someone — Pete Hegseth — a drunk. I think he should sue for defamation of character. Mike Armstrong
God-forsaken
Staten Island: To Voicer George O’Neill: There is a huge difference between God causing something to happen and God letting it happen. Did it ever occur to you that God may have let Trump get reelected to teach all the stupid, selfish, narrow-minded idiots who voted for him how harebrained and misguided their decisions were? Did it ever occur to you that God is showing these dunces firsthand what happens when you allow garbage like Trump back into office, complete with all the horror and misery that he and his fellow plutocrats will certainly inflict on America? Haven’t you been watching and listening to everything he’s said and done since legitimately losing the 2020 election, including lying about the result and causing an insurrection when the courts wouldn’t bow to him — even throwing his own vice president to the wolves he sicced on the Capitol? Phil Bauch
Anti-constitutional
Redondo Beach, Calif.: Regarding Trump’s plan to end birthright citizenship, Trump once said that if he was not elected, we would not have a country. Now that Trump is elected, he wants a country without the Constitution. John Chevedden
Space farce
Bronx: Trump is the useful idiot for so many people cozying up to him (and vice versa). Canadian/South African Elon Musk wants U.S. funds to journey to Mars — and for what benefit to the American taxpayer, who will have money taken from Social Security, Medicare, air traffic controllers, infrastructure projects, etc.? And let’s not forget the accident records of untowable Tesla vehicles. And that’s just the first CEO friend of Trump’s. We work hard for our money and we don’t want it to vanish into the air with no benefits for taxpayers. Rose Mary Lancaster
Keep fighting
Williamsburg, Va.: Ukrainian President Volodymyr Zelenskyy should not give up 20% of Ukraine to have peace with Russia. Ukraine has lost well over 100,000 killed and wounded soldiers who will have sacrificed their lives for nothing if you go ahead with Trump’s peace plan. Lower the age off conscripts into your military if you expect to win the war, or hire fighters from other countries, such as Russia is doing with North Koreans. Forget about joining NATO. It will never happen, as many countries still do not trust Ukraine, which has a history of a corrupt government. Ukrainians are smart people and can improvise new destructive devices to counter Russia. Putin is being backed into a corner the longer this war continues. His economy is in shambles and most recently, he was unable to support the former president of Syria, who fled to Russia. Continue the pressure if you want to win. John Lemandri
Excessive wealth
Floral Park, L.I.: I am very disappointed that Juan Soto chose to go to the Mets. Money definitely talks. I hope he donates some of it to charities, especially people in great need. Regina Rossi
Room for improvement
Highland Falls, N.Y.: I know that to you, Steve Cohen, $765 million is couch-cushion money, and Mets fans are dancing in the streets, but you have done the Yankees a favor by removing a huge block to the creation of a new dynasty. Soto was going to be a stone around the Yankees’ necks. The Yanks can now put Aaron Judge back where he belongs in right field, give the Martian a shot at being a center-field foundation stone, along with Spencer Jones, Justin Volpe, Luis Gil and Austin Wells. The seeds are there for a new Core Four (or more), and with the money that would have been poured into one player, the Yanks can add more of what they need — pitching, pitching, pitching. One brick, even a solid gold one, does not a solid structure make, and Yankees fans have an up-and-coming group of homegrown players to root for. Joe Cyr
Good things ahead
Omaha: Talk about a risky investment. Don’t fret, Yankees fans, this signing will allow the Yankees to take steps back and greatly improve this team without Soto. Time to bring up the younger players and maybe sign a free agent. From a 50-year Yankees fan! Tom Dahulick
‘Ear’ me out
Brooklyn: I don’t often write to newspapers or endorse doctors or products, but I felt this was important for people with hearing problems. I want to recommend Miracle Ear at CVS Plaza In Brooklyn. I had the hearing examination conducted by Dr. Vitoria A. Zambrano. She was patient, as I was a very nervous client. She examined me and explained everything in detail. We discussed all my options, as I had hearing loss in both ears. I had some difficulties with my initial aids. Dr. Zambrano went out of her way to correct them and make me feel comfortable. I walked away with better hearing and knowing that help was available whenever I should need it. In this troubled world, it was a pleasure to meet people who were kind and compassionate. I also want to specifically mention Denise, the receptionist. Sharon R. Kohn
Vegan Santa
Manhattan: This year, I’m embracing the spirit of giving in a new way — I’ve gone vegan! After centuries of milk and cookies, I’ve decided it’s time to swap dairy for creamy oat or almond milk and enjoy plant-based cookies. My decision is about more than snacks. I’m also retiring my reindeer and upgrading to an eco-friendly electric sled to reduce my carbon footprint and give my hardworking friends the peaceful life they deserve. Going vegan improves my health, helps fight climate change and saves thousands of animals each year. It’s a gift to myself, the planet and all living beings. If I can make this change, anyone can! This Christmas, I’ll be spreading compassion along with cheer, and I hope you’ll join me in creating a kinder world. It’s easier than ever to go vegan. Warm wishes for a joyful and compassionate season! Yours truly, Ol’ St. Nick. Nelson Yancy
