[quote=CA renter]

This is my understanding of how the credit bubble grew:

1. The passage of the Taxpayer Relief Act of 1997 …

2. The passage of the Gramm–Leach–Bliley Act in 1999 …

3. Greenspan’s lowering of interest rates to historically low levels, then keeping them there for an extended period of time (we’re still there!!!). …

[/quote]

It is interesting to note that ALL of these factors are still in play today, nearly 5 years into the burst of the bubble.