Birdwatch Note Rating
2024-04-30 08:31:47 UTC - HELPFUL
Rated by Participant: 88720ABF6EFC6AF6BCB13DF7A1D7AA4C6529B678B65FDEA5C0E1B19266962A40
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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