Birdwatch Note Rating
2024-04-29 12:44:22 UTC - HELPFUL
Rated by Participant: AD2DB85BDA07BCF52C7FBCE7EFBCFAAD8581AA6E638238D5546A109842FE4B37
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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