Birdwatch Note Rating
2024-04-30 03:52:59 UTC - NOT_HELPFUL
Rated by Participant: BFAF9D3B277C6E93A0B0CE9E6BB8520FA00DBB8E004268D96EB767ABB0BDF0EA
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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