Birdwatch Note Rating
2024-04-29 12:34:28 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 975D963238206D0543417CB51BDBD84A80BC1B93327E775AAE7877C459A4B659
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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