Birdwatch Note Rating
2024-04-29 12:39:25 UTC - HELPFUL
Rated by Participant: 5CAF36D31B94076E64DFAB983A9BB00F2A7AC49CC3EA325A2E50EAF2947661F7
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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