You’re right. Hasn’t the Prime Rate been at 5.00% for about 8 months now? There was something about the Glass-Stegal act which Greenspan was against back during the Clinton years.
First, Greenspan has ties to Citi, so he was a big supporter of deregulation.
Second, the part of the Gramm et al deregulation bill was that banks could now compete in the MBS/ABS market.
Well, THAT part of the deregulation certainly didn’t work well!!!