REPO and the Great Recession
The current recession –now dubbed the Great Recession- was caused by several factors. While many have sought to point fingers at various industries, Robert X. Cringley of housingwatch.com says it is not entirely the fault of subprime mortgage securitization. According to Cringley, “it was just a plain old bank panic.”
According to Cringley, though the whole securitization was in disarray, the size of subprime was not at a size that could put the whole financial system at risk. Instead, Cringley places most of the blame on the Renew Sale and Repurchase (REPO) market. Take a look at this article to find out one of the many contributing factors to the Great Recession.
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