Birdwatch Note Rating
2024-04-29 15:22:46 UTC - HELPFUL
Rated by Participant: ACB7AC82FDBD7EBB70360E8C3C6C5B7114DBBB96636A6CD42F20BAE2949C9E4C
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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