New at TWI: Federal Home Loan Banks Loaned Billions to Prop Up Risky Lenders

The Atlanta Federal Home Loan Bank loaned $51.5 billion to Countrywide — a mortgage lender at the heart of the subprime crisis — in 2007. Washington Mutual, which went on to become the largest failed bank in American history, received $31 billion in loans from the San Francisco FHLB. IndyMac, More…