Birdwatch Note Rating
2024-04-29 19:16:55 UTC - HELPFUL
Rated by Participant: DED38C0937AB578EBC00DD7ECEAB923F0AF42E65F14E9BFBE05BCC3EDC2C2A57
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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