You might be partially correct, but, in my opinion, government intervention is by far the root cause (witness whom bullied sub prime mortgages to begin with, and then relaxed the rules to artificially survive..barney frank, chris dodd and the rest of congress should have their a$$es sued off.
The Clintons forced some bad loans no doubt but Congress did nothing to oversee the mess, lifted the leverage limits back in 2004 and did a bad job in enacting any reforms. How the hell do these business get to run bad assets off of their books for crying out loud?