Birdwatch Note Rating
2024-04-30 04:47:48 UTC - NOT_HELPFUL
Rated by Participant: 18ACABEC7EB42925B5C119E00C72714823E89EDD24F45F9010CBD52D24D4F3C4
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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