Since a new economists’ study traces the roots of the Recession to the 90s, is Clinton more to blame than Bush?

This study says it all comes down to there being nothing to back inter-bank loans: “The REPO market of interbank loans had always existed but it grew dramatically in the 1990s to support securitization. But since there was no deposit insurance for institutional loans measured in hundreds of millions of dollars, counterparties demanded collateral to back these overnight REPO loans that generally replaced demand deposits in the banking system.”

http://www.housingwatch.com/2010/02/26/it-wasnt-a-mortgage-recession-after-all-so-why-dont-we-feel-b/?icid=main|main|dl1|link3|http%3A%2F%2Fwww.housingwatch.com%2F2010%2F02%2F26%2Fit-wasnt-a-mortgage-recession-after-all-so-why-dont-we-feel-b%2F

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