So apparently Countrywide, a big contributor to big shitpile, has gotten the Atlanta Federal Home Loan Bank to lend them $25 billion over the last few months, on top of the $25 billion they'd already gotten. The collateral for these loans is... you guessed it... Countrywide's portion of big shitpile.
This is about 37% of the Atlanta FHLB's entire loan portfolio.
FHLB's are government sponsored enterprises but are not explicitly taxpayer financed. One can imagine who might get left holding the bag.
