Birdwatch Note Rating
2024-04-30 00:40:29 UTC - HELPFUL
Rated by Participant: CD246E08E2FC53B6A1C18BBE074A0EFDAA2C2CE3978F7A03B91FDC7F5ECB0019
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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