Birdwatch Note Rating
2024-04-29 17:54:55 UTC - NOT_HELPFUL
Rated by Participant: BD5EF9C900C3E521FF7C18F86F9B023DA6958B3F2931E48499C0308F9028858B
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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