Birdwatch Note Rating
2024-04-29 15:11:34 UTC - HELPFUL
Rated by Participant: 427C64CF48BE2E494C6B9FD0DDCFE4A7226E5A41476779BF15AFA1BD5FAF76BB
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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