Birdwatch Note Rating
2024-04-29 12:37:34 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 29AF34E9EB9776E5719E3AD1D5AE6FBDE803ED5D39697357089EB842A2B334B1
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
All Note Details