Birdwatch Note Rating
2024-04-29 13:51:09 UTC - HELPFUL
Rated by Participant: DF22223B52237283DCE9BD11D4F7F760EAF6BF06C71D9405EC2BB16EA7C39C4A
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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