Birdwatch Note Rating
2024-04-29 12:44:57 UTC - HELPFUL
Rated by Participant: 0AFE1BCB3D90FC34B7D6105598D941B3AC979B3CFE36BCBD40D674291EFFBB8A
Participant Details
Original Note:
In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act. These new rules put pressure on banks to give out risky mortgages to subprime borrowers (housing bubble). The Great Recession was largely caused by excessive subprime mortgages. https://www.minneapolisfed.org/article/2001/community-development-under-the-cra-review-of-the-1995-regulations-begins https://www.fool.com/the-ascent/mortgages/subprime-mortgage-crisis https://en.m.wikipedia.org/wiki/Subprime_mortgage_crisis
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