Birdwatch Note Rating
2024-04-29 12:25:32 UTC - HELPFUL
Rated by Participant: 48977CCF82ECCC5E82C575C7F7AC3FE39E639DBBB16469E64B0DC3666AF46C16
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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