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5733703c4776f41900660ada
Financial_crisis_of_2007%E2%80%9308
In September 2008, the crisis hit its most critical stage. There was the equivalent of a bank run on the money market funds, which frequently invest in commercial paper issued by corporations to fund their operations and payrolls. Withdrawal from money markets were $144.5 billion during one week, versus $7.1 billion th...
How much was withdrawn from money markets during one week in September 2008?
{ "text": [ "$144.5 billion" ], "answer_start": [ 266 ] }
5733703c4776f41900660adb
Financial_crisis_of_2007%E2%80%9308
In September 2008, the crisis hit its most critical stage. There was the equivalent of a bank run on the money market funds, which frequently invest in commercial paper issued by corporations to fund their operations and payrolls. Withdrawal from money markets were $144.5 billion during one week, versus $7.1 billion th...
What was the record high for the TED spread on October 10, 2008?
{ "text": [ "4.65%" ], "answer_start": [ 822 ] }
57337227d058e614000b5b19
Financial_crisis_of_2007%E2%80%9308
Economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner explain the credit crisis via the implosion of the shadow banking system, which had grown to nearly equal the importance of the traditional commercial banking sector as described above. Without the ability to obtain investor funds in exchange for most ...
Economist Paul Krugman explained the credit crisis via the implosion of which system?
{ "text": [ "shadow banking system" ], "answer_start": [ 119 ] }
57337227d058e614000b5b1a
Financial_crisis_of_2007%E2%80%9308
Economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner explain the credit crisis via the implosion of the shadow banking system, which had grown to nearly equal the importance of the traditional commercial banking sector as described above. Without the ability to obtain investor funds in exchange for most ...
What is the system with nearly equal the importance of traditional commercial banking?
{ "text": [ "shadow banking system" ], "answer_start": [ 119 ] }
57337227d058e614000b5b1b
Financial_crisis_of_2007%E2%80%9308
Economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner explain the credit crisis via the implosion of the shadow banking system, which had grown to nearly equal the importance of the traditional commercial banking sector as described above. Without the ability to obtain investor funds in exchange for most ...
The shadow banking system could not provide funds to mortgage firms and other corporations without the ability to obtain which funds?
{ "text": [ "investor funds" ], "answer_start": [ 284 ] }
57337227d058e614000b5b1c
Financial_crisis_of_2007%E2%80%9308
Economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner explain the credit crisis via the implosion of the shadow banking system, which had grown to nearly equal the importance of the traditional commercial banking sector as described above. Without the ability to obtain investor funds in exchange for most ...
What was Timothy Geithner's position during the fall of 2008?
{ "text": [ "U.S. Treasury Secretary" ], "answer_start": [ 27 ] }
57337343d058e614000b5b30
Financial_crisis_of_2007%E2%80%9308
This meant that nearly one-third of the U.S. lending mechanism was frozen and continued to be frozen into June 2009. According to the Brookings Institution, the traditional banking system does not have the capital to close this gap as of June 2009: "It would take a number of years of strong profits to generate sufficie...
How much of the U.S. lending mechanism was frozen until June 2009?
{ "text": [ "nearly one-third" ], "answer_start": [ 16 ] }
57337343d058e614000b5b31
Financial_crisis_of_2007%E2%80%9308
This meant that nearly one-third of the U.S. lending mechanism was frozen and continued to be frozen into June 2009. According to the Brookings Institution, the traditional banking system does not have the capital to close this gap as of June 2009: "It would take a number of years of strong profits to generate sufficie...
What is the primary cause of the reduction in funds available for borrowing?
{ "text": [ "the collapse of the shadow banking system" ], "answer_start": [ 599 ] }
57337343d058e614000b5b32
Financial_crisis_of_2007%E2%80%9308
This meant that nearly one-third of the U.S. lending mechanism was frozen and continued to be frozen into June 2009. According to the Brookings Institution, the traditional banking system does not have the capital to close this gap as of June 2009: "It would take a number of years of strong profits to generate sufficie...
What institution reported that the traditional banking systems does not have the capital to close the gap in the lending mechanism?
{ "text": [ "Brookings Institution" ], "answer_start": [ 134 ] }
57337343d058e614000b5b33
Financial_crisis_of_2007%E2%80%9308
This meant that nearly one-third of the U.S. lending mechanism was frozen and continued to be frozen into June 2009. According to the Brookings Institution, the traditional banking system does not have the capital to close this gap as of June 2009: "It would take a number of years of strong profits to generate sufficie...
What is likely to vanish forever, as a result of excessively loose credit conditions?
{ "text": [ "some forms of securitization" ], "answer_start": [ 406 ] }
57337343d058e614000b5b34
Financial_crisis_of_2007%E2%80%9308
This meant that nearly one-third of the U.S. lending mechanism was frozen and continued to be frozen into June 2009. According to the Brookings Institution, the traditional banking system does not have the capital to close this gap as of June 2009: "It would take a number of years of strong profits to generate sufficie...
As of June 2009, the Brookings Institution reports that traditional banking system does not have enough of what to close the lending gap?
{ "text": [ "capital" ], "answer_start": [ 206 ] }
573374204776f41900660b02
Financial_crisis_of_2007%E2%80%9308
There is a direct relationship between declines in wealth and declines in consumption and business investment, which along with government spending, represent the economic engine. Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.[citation need...
How much net worth did Americans lose between June 2007 and November 2008?
{ "text": [ "more than a quarter" ], "answer_start": [ 256 ] }
573374204776f41900660b03
Financial_crisis_of_2007%E2%80%9308
There is a direct relationship between declines in wealth and declines in consumption and business investment, which along with government spending, represent the economic engine. Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.[citation need...
In November 2008, how much was the U.S. stock index down from its 2007 high?
{ "text": [ "45%" ], "answer_start": [ 395 ] }
573374204776f41900660b04
Financial_crisis_of_2007%E2%80%9308
There is a direct relationship between declines in wealth and declines in consumption and business investment, which along with government spending, represent the economic engine. Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.[citation need...
In November 2008, how much had housing prices drop from their 2006 peak?
{ "text": [ "20%" ], "answer_start": [ 446 ] }
573374204776f41900660b05
Financial_crisis_of_2007%E2%80%9308
There is a direct relationship between declines in wealth and declines in consumption and business investment, which along with government spending, represent the economic engine. Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.[citation need...
How much was home equity valued in the United States at its peak in 2006?
{ "text": [ "$13 trillion" ], "answer_start": [ 588 ] }
573374204776f41900660b06
Financial_crisis_of_2007%E2%80%9308
There is a direct relationship between declines in wealth and declines in consumption and business investment, which along with government spending, represent the economic engine. Between June 2007 and November 2008, Americans lost an estimated average of more than a quarter of their collective net worth.[citation need...
How much was home equity valued in the United States in mid-2008?
{ "text": [ "$8.8 trillion" ], "answer_start": [ 637 ] }
57337520d058e614000b5b4c
Financial_crisis_of_2007%E2%80%9308
In November 2008, economist Dean Baker observed: "There is a really good reason for tighter credit. Tens of millions of homeowners who had substantial equity in their homes two years ago have little or nothing today. Businesses are facing the worst downturn since the Great Depression. This matters for credit decisions....
According to economist Dean Baker, a homeowner who has no equity if this type default risk?
{ "text": [ "serious" ], "answer_start": [ 584 ] }
57337520d058e614000b5b4d
Financial_crisis_of_2007%E2%80%9308
In November 2008, economist Dean Baker observed: "There is a really good reason for tighter credit. Tens of millions of homeowners who had substantial equity in their homes two years ago have little or nothing today. Businesses are facing the worst downturn since the Great Depression. This matters for credit decisions....
What is one of the major problems with the economy in November 2008?
{ "text": [ "loss of close to $6 trillion in housing wealth" ], "answer_start": [ 985 ] }
57337520d058e614000b5b4e
Financial_crisis_of_2007%E2%80%9308
In November 2008, economist Dean Baker observed: "There is a really good reason for tighter credit. Tens of millions of homeowners who had substantial equity in their homes two years ago have little or nothing today. Businesses are facing the worst downturn since the Great Depression. This matters for credit decisions....
How many homeowners who had substantial equity in their homes two years ago, have little no equity as of November 2008?
{ "text": [ "Tens of millions" ], "answer_start": [ 100 ] }
57337520d058e614000b5b4f
Financial_crisis_of_2007%E2%80%9308
In November 2008, economist Dean Baker observed: "There is a really good reason for tighter credit. Tens of millions of homeowners who had substantial equity in their homes two years ago have little or nothing today. Businesses are facing the worst downturn since the Great Depression. This matters for credit decisions....
What does the creditworthiness of businesses depend on?
{ "text": [ "future profits" ], "answer_start": [ 673 ] }
57337520d058e614000b5b50
Financial_crisis_of_2007%E2%80%9308
In November 2008, economist Dean Baker observed: "There is a really good reason for tighter credit. Tens of millions of homeowners who had substantial equity in their homes two years ago have little or nothing today. Businesses are facing the worst downturn since the Great Depression. This matters for credit decisions....
How did profit prospects for businesses look in November 2008 compared to November 2007?
{ "text": [ "much worse" ], "answer_start": [ 711 ] }
573376974776f41900660b3e
Financial_crisis_of_2007%E2%80%9308
Several commentators have suggested that if the liquidity crisis continues, an extended recession or worse could occur. The continuing development of the crisis has prompted fears of a global economic collapse although there are now many cautiously optimistic forecasters in addition to some prominent sources who remain...
In 2008, what type collapse was feared?
{ "text": [ "global economic collapse" ], "answer_start": [ 185 ] }
573376974776f41900660b3f
Financial_crisis_of_2007%E2%80%9308
Several commentators have suggested that if the liquidity crisis continues, an extended recession or worse could occur. The continuing development of the crisis has prompted fears of a global economic collapse although there are now many cautiously optimistic forecasters in addition to some prominent sources who remain...
What investment bank stated on October 6 that 2008 would see a global recession lasting for at least two years?
{ "text": [ "UBS" ], "answer_start": [ 453 ] }
573376974776f41900660b40
Financial_crisis_of_2007%E2%80%9308
Several commentators have suggested that if the liquidity crisis continues, an extended recession or worse could occur. The continuing development of the crisis has prompted fears of a global economic collapse although there are now many cautiously optimistic forecasters in addition to some prominent sources who remain...
On October 16, 2008, how long did UBS predict the United States' recession would last?
{ "text": [ "three quarters" ], "answer_start": [ 1288 ] }
573376974776f41900660b41
Financial_crisis_of_2007%E2%80%9308
Several commentators have suggested that if the liquidity crisis continues, an extended recession or worse could occur. The continuing development of the crisis has prompted fears of a global economic collapse although there are now many cautiously optimistic forecasters in addition to some prominent sources who remain...
Relative to the size of its economy, what country's banking collapse was the largest experienced by any country in economic history?
{ "text": [ "Iceland" ], "answer_start": [ 1472 ] }
573376974776f41900660b42
Financial_crisis_of_2007%E2%80%9308
Several commentators have suggested that if the liquidity crisis continues, an extended recession or worse could occur. The continuing development of the crisis has prompted fears of a global economic collapse although there are now many cautiously optimistic forecasters in addition to some prominent sources who remain...
What was one of the actions taken by government to fix the financial crisis?
{ "text": [ "capital injection" ], "answer_start": [ 742 ] }
573377904776f41900660b4d
Financial_crisis_of_2007%E2%80%9308
The Brookings Institution reported in June 2009 that U.S. consumption accounted for more than a third of the growth in global consumption between 2000 and 2007. "The US economy has been spending too much and borrowing too much for years and the rest of the world depended on the U.S. consumer as a source of global deman...
According to The Brookings Institution report in June 2009, how much growth did U.S. consumption account for between 2000 and 2007?
{ "text": [ "more than a third" ], "answer_start": [ 84 ] }
573377904776f41900660b4e
Financial_crisis_of_2007%E2%80%9308
The Brookings Institution reported in June 2009 that U.S. consumption accounted for more than a third of the growth in global consumption between 2000 and 2007. "The US economy has been spending too much and borrowing too much for years and the rest of the world depended on the U.S. consumer as a source of global deman...
For the first quarter of 2009, what was the annualized rate of decline in GDP in Germany?
{ "text": [ "14.4%" ], "answer_start": [ 525 ] }
573377904776f41900660b4f
Financial_crisis_of_2007%E2%80%9308
The Brookings Institution reported in June 2009 that U.S. consumption accounted for more than a third of the growth in global consumption between 2000 and 2007. "The US economy has been spending too much and borrowing too much for years and the rest of the world depended on the U.S. consumer as a source of global deman...
For the first quarter of 2009, what was the annualized rate of decline in GDP in Mexico?
{ "text": [ "21.5%" ], "answer_start": [ 616 ] }
573377904776f41900660b50
Financial_crisis_of_2007%E2%80%9308
The Brookings Institution reported in June 2009 that U.S. consumption accounted for more than a third of the growth in global consumption between 2000 and 2007. "The US economy has been spending too much and borrowing too much for years and the rest of the world depended on the U.S. consumer as a source of global deman...
Who depended on the U.S. consumer as a source of global demand?
{ "text": [ "the rest of the world" ], "answer_start": [ 241 ] }
573377904776f41900660b51
Financial_crisis_of_2007%E2%80%9308
The Brookings Institution reported in June 2009 that U.S. consumption accounted for more than a third of the growth in global consumption between 2000 and 2007. "The US economy has been spending too much and borrowing too much for years and the rest of the world depended on the U.S. consumer as a source of global deman...
What is one reason for the decline in growth around the world in 2009?
{ "text": [ "recession in the U.S." ], "answer_start": [ 331 ] }
573378a84776f41900660b57
Financial_crisis_of_2007%E2%80%9308
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development...
What is the growth forecast for Cambodia in 2009?
{ "text": [ "close to zero" ], "answer_start": [ 174 ] }
573378a84776f41900660b58
Financial_crisis_of_2007%E2%80%9308
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development...
How much were remittances sent from migrant workers in 2007?
{ "text": [ "$251 billion" ], "answer_start": [ 485 ] }
573378a84776f41900660b59
Financial_crisis_of_2007%E2%80%9308
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development...
How many people live below the poverty line in Bangladesh?
{ "text": [ "300,000" ], "answer_start": [ 673 ] }
573378a84776f41900660b5a
Financial_crisis_of_2007%E2%80%9308
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development...
What does Bruno Wenn of the German DEG recommend to attract new investors?
{ "text": [ "sound economic policymaking and good governance" ], "answer_start": [ 911 ] }
573378a84776f41900660b5b
Financial_crisis_of_2007%E2%80%9308
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development...
According to Overseas Development Institute, what is one reason for the reduction in growth in developing countries?
{ "text": [ "falls in trade" ], "answer_start": [ 374 ] }
5733797b4776f41900660b6b
Financial_crisis_of_2007%E2%80%9308
The World Bank reported in February 2009 that the Arab World was far less severely affected by the credit crunch. With generally good balance of payments positions coming into the crisis or with alternative sources of financing for their large current account deficits, such as remittances, Foreign Direct Investment (FD...
What area of the world was less severely affected by the credit crunch according to The World Bank report In February 2009?
{ "text": [ "Arab World" ], "answer_start": [ 50 ] }
5733797b4776f41900660b6c
Financial_crisis_of_2007%E2%80%9308
The World Bank reported in February 2009 that the Arab World was far less severely affected by the credit crunch. With generally good balance of payments positions coming into the crisis or with alternative sources of financing for their large current account deficits, such as remittances, Foreign Direct Investment (FD...
What does the abbreviation FDI stand for?
{ "text": [ "Foreign Direct Investment" ], "answer_start": [ 291 ] }
5733797b4776f41900660b6d
Financial_crisis_of_2007%E2%80%9308
The World Bank reported in February 2009 that the Arab World was far less severely affected by the credit crunch. With generally good balance of payments positions coming into the crisis or with alternative sources of financing for their large current account deficits, such as remittances, Foreign Direct Investment (FD...
Arab countries entered the financial crisis in exceptionally strong positions giving them a cushion against this?
{ "text": [ "global downturn" ], "answer_start": [ 596 ] }
5733797b4776f41900660b6e
Financial_crisis_of_2007%E2%80%9308
The World Bank reported in February 2009 that the Arab World was far less severely affected by the credit crunch. With generally good balance of payments positions coming into the crisis or with alternative sources of financing for their large current account deficits, such as remittances, Foreign Direct Investment (FD...
What will have the greatest impact on the global economic crisis?
{ "text": [ "lower oil prices" ], "answer_start": [ 688 ] }
5733797b4776f41900660b6f
Financial_crisis_of_2007%E2%80%9308
The World Bank reported in February 2009 that the Arab World was far less severely affected by the credit crunch. With generally good balance of payments positions coming into the crisis or with alternative sources of financing for their large current account deficits, such as remittances, Foreign Direct Investment (FD...
What is the single most important determinant of economic performance?
{ "text": [ "oil prices" ], "answer_start": [ 802 ] }
57337ebd4776f41900660bdb
Financial_crisis_of_2007%E2%80%9308
The output of goods and services produced by labor and property located in the United States—decreased at an annual rate of approximately 6% in the fourth quarter of 2008 and first quarter of 2009, versus activity in the year-ago periods. The U.S. unemployment rate increased to 10.1% by October 2009, the highest rate s...
What was the U.S. unemployment rate in October 2009?
{ "text": [ "10.1%" ], "answer_start": [ 279 ] }
57337ebd4776f41900660bdd
Financial_crisis_of_2007%E2%80%9308
The output of goods and services produced by labor and property located in the United States—decreased at an annual rate of approximately 6% in the fourth quarter of 2008 and first quarter of 2009, versus activity in the year-ago periods. The U.S. unemployment rate increased to 10.1% by October 2009, the highest rate s...
What was the average hours per work week in October 2009?
{ "text": [ "33" ], "answer_start": [ 413 ] }
57337ebd4776f41900660bda
Financial_crisis_of_2007%E2%80%9308
The output of goods and services produced by labor and property located in the United States—decreased at an annual rate of approximately 6% in the fourth quarter of 2008 and first quarter of 2009, versus activity in the year-ago periods. The U.S. unemployment rate increased to 10.1% by October 2009, the highest rate s...
What was the annual rate of decrease for the output of goods and services produced by labor and property in 4Q 2008 and 1Q 2009?
{ "text": [ "6%" ], "answer_start": [ 138 ] }
57337ebd4776f41900660bdc
Financial_crisis_of_2007%E2%80%9308
The output of goods and services produced by labor and property located in the United States—decreased at an annual rate of approximately 6% in the fourth quarter of 2008 and first quarter of 2009, versus activity in the year-ago periods. The U.S. unemployment rate increased to 10.1% by October 2009, the highest rate s...
The U.E. employment rate was 10.2% in October 2009, which was the highest rate since what year?
{ "text": [ "1983" ], "answer_start": [ 325 ] }
57337ebd4776f41900660bde
Financial_crisis_of_2007%E2%80%9308
The output of goods and services produced by labor and property located in the United States—decreased at an annual rate of approximately 6% in the fourth quarter of 2008 and first quarter of 2009, versus activity in the year-ago periods. The U.S. unemployment rate increased to 10.1% by October 2009, the highest rate s...
The decline of gross domestic product also caused a decline in innovation, evidenced by the flat-lining of what?
{ "text": [ "patent applications" ], "answer_start": [ 633 ] }
573386814776f41900660ca1
Financial_crisis_of_2007%E2%80%9308
European regulators introduced Basel III regulations for banks. It increased capital ratios, limits on leverage, narrow definition of capital (to exclude subordinated debt), limit counter-party risk, and new liquidity requirements. Critics argue that Basel III doesn’t address the problem of faulty risk-weightings. Majo...
Critics argue that Basel III doesn't address which problem?
{ "text": [ "faulty risk-weightings" ], "answer_start": [ 292 ] }
573386814776f41900660ca4
Financial_crisis_of_2007%E2%80%9308
European regulators introduced Basel III regulations for banks. It increased capital ratios, limits on leverage, narrow definition of capital (to exclude subordinated debt), limit counter-party risk, and new liquidity requirements. Critics argue that Basel III doesn’t address the problem of faulty risk-weightings. Majo...
What term describes creating risk-free assets out of high risk collateral?
{ "text": [ "financial engineering" ], "answer_start": [ 370 ] }
573386814776f41900660ca0
Financial_crisis_of_2007%E2%80%9308
European regulators introduced Basel III regulations for banks. It increased capital ratios, limits on leverage, narrow definition of capital (to exclude subordinated debt), limit counter-party risk, and new liquidity requirements. Critics argue that Basel III doesn’t address the problem of faulty risk-weightings. Majo...
What did European regulators introduce to increase the oversight of banks?
{ "text": [ "Basel III regulations" ], "answer_start": [ 31 ] }
573386814776f41900660ca2
Financial_crisis_of_2007%E2%80%9308
European regulators introduced Basel III regulations for banks. It increased capital ratios, limits on leverage, narrow definition of capital (to exclude subordinated debt), limit counter-party risk, and new liquidity requirements. Critics argue that Basel III doesn’t address the problem of faulty risk-weightings. Majo...
Who argued that regulations led to excessive lending to risky governments?
{ "text": [ "Johan Norberg" ], "answer_start": [ 643 ] }
573386814776f41900660ca3
Financial_crisis_of_2007%E2%80%9308
European regulators introduced Basel III regulations for banks. It increased capital ratios, limits on leverage, narrow definition of capital (to exclude subordinated debt), limit counter-party risk, and new liquidity requirements. Critics argue that Basel III doesn’t address the problem of faulty risk-weightings. Majo...
What was increased by Basel III regulations?
{ "text": [ "capital ratios" ], "answer_start": [ 77 ] }
573387494776f41900660caf
Financial_crisis_of_2007%E2%80%9308
The U.S. recession that began in December 2007 ended in June 2009, according to the U.S. National Bureau of Economic Research (NBER) and the financial crisis appears to have ended about the same time. In April 2009 TIME magazine declared "More Quickly Than It Began, The Banking Crisis Is Over." The United States Financ...
When did the U.S. recession that began in December 2007 end?
{ "text": [ "June 2009" ], "answer_start": [ 56 ] }
573387494776f41900660cb0
Financial_crisis_of_2007%E2%80%9308
The U.S. recession that began in December 2007 ended in June 2009, according to the U.S. National Bureau of Economic Research (NBER) and the financial crisis appears to have ended about the same time. In April 2009 TIME magazine declared "More Quickly Than It Began, The Banking Crisis Is Over." The United States Financ...
When did the financial crisis appear to have ended?
{ "text": [ "June 2009" ], "answer_start": [ 56 ] }
573387494776f41900660cb3
Financial_crisis_of_2007%E2%80%9308
The U.S. recession that began in December 2007 ended in June 2009, according to the U.S. National Bureau of Economic Research (NBER) and the financial crisis appears to have ended about the same time. In April 2009 TIME magazine declared "More Quickly Than It Began, The Banking Crisis Is Over." The United States Financ...
When does the United States Financial Crisis Inquiry Commission date the crisis to?
{ "text": [ "2008" ], "answer_start": [ 370 ] }
573387494776f41900660cb1
Financial_crisis_of_2007%E2%80%9308
The U.S. recession that began in December 2007 ended in June 2009, according to the U.S. National Bureau of Economic Research (NBER) and the financial crisis appears to have ended about the same time. In April 2009 TIME magazine declared "More Quickly Than It Began, The Banking Crisis Is Over." The United States Financ...
What was the name of the article that appeared in TIME magazine in April 2009 declaring the crisis over?
{ "text": [ "More Quickly Than It Began, The Banking Crisis Is Over.\"" ], "answer_start": [ 239 ] }
573387494776f41900660cb2
Financial_crisis_of_2007%E2%80%9308
The U.S. recession that began in December 2007 ended in June 2009, according to the U.S. National Bureau of Economic Research (NBER) and the financial crisis appears to have ended about the same time. In April 2009 TIME magazine declared "More Quickly Than It Began, The Banking Crisis Is Over." The United States Financ...
On what date did President Barack Obama declare that the markets are stabilized?
{ "text": [ "January 27, 2010" ], "answer_start": [ 411 ] }
573388854776f41900660cb9
Financial_crisis_of_2007%E2%80%9308
Advanced economies led global economic growth prior to the financial crisis with "emerging" and "developing" economies lagging behind. The crisis completely overturned this relationship. The International Monetary Fund found that "advanced" economies accounted for only 31% of global GDP while emerging and developing ec...
Who led global economic growth after the financial crisis?
{ "text": [ "\"emerging\" and \"developing\" economies" ], "answer_start": [ 81 ] }
573388854776f41900660cba
Financial_crisis_of_2007%E2%80%9308
Advanced economies led global economic growth prior to the financial crisis with "emerging" and "developing" economies lagging behind. The crisis completely overturned this relationship. The International Monetary Fund found that "advanced" economies accounted for only 31% of global GDP while emerging and developing ec...
How much global GDP did emerging and developing economies account for from 2007 to 2014?
{ "text": [ "69%" ], "answer_start": [ 342 ] }
573388854776f41900660cbd
Financial_crisis_of_2007%E2%80%9308
Advanced economies led global economic growth prior to the financial crisis with "emerging" and "developing" economies lagging behind. The crisis completely overturned this relationship. The International Monetary Fund found that "advanced" economies accounted for only 31% of global GDP while emerging and developing ec...
What relationship between advanced and emerging/developing was completely overturned by the financial crisis of 2007?
{ "text": [ "global economic growth" ], "answer_start": [ 23 ] }
573388854776f41900660cbb
Financial_crisis_of_2007%E2%80%9308
Advanced economies led global economic growth prior to the financial crisis with "emerging" and "developing" economies lagging behind. The crisis completely overturned this relationship. The International Monetary Fund found that "advanced" economies accounted for only 31% of global GDP while emerging and developing ec...
How much global GDP did "advanced" economies account for from 2007 to 2014?
{ "text": [ "31%" ], "answer_start": [ 270 ] }
573388854776f41900660cbc
Financial_crisis_of_2007%E2%80%9308
Advanced economies led global economic growth prior to the financial crisis with "emerging" and "developing" economies lagging behind. The crisis completely overturned this relationship. The International Monetary Fund found that "advanced" economies accounted for only 31% of global GDP while emerging and developing ec...
What economies led global economic growth prior to the financial crisis?
{ "text": [ "Advanced economies" ], "answer_start": [ 0 ] }
57332627d058e614000b5744
Financial_crisis_of_2007%E2%80%9308
Krugman's contention (that the growth of a commercial real estate bubble indicates that U.S. housing policy was not the cause of the crisis) is challenged by additional analysis. After researching the default of commercial loans during the financial crisis, Xudong An and Anthony B. Sanders reported (in December 2010): ...
Who believed that the growth of the commercial real estate bubble indicated that U.S. housing policy was not the cause of the crisis?
{ "text": [ "Krugman" ], "answer_start": [ 0 ] }
57332627d058e614000b5745
Financial_crisis_of_2007%E2%80%9308
Krugman's contention (that the growth of a commercial real estate bubble indicates that U.S. housing policy was not the cause of the crisis) is challenged by additional analysis. After researching the default of commercial loans during the financial crisis, Xudong An and Anthony B. Sanders reported (in December 2010): ...
When did Xudong An and Anthony B. Sanders issue a report about commercial mortgage-backed securities?
{ "text": [ "December 2010" ], "answer_start": [ 304 ] }
57332627d058e614000b5746
Financial_crisis_of_2007%E2%80%9308
Krugman's contention (that the growth of a commercial real estate bubble indicates that U.S. housing policy was not the cause of the crisis) is challenged by additional analysis. After researching the default of commercial loans during the financial crisis, Xudong An and Anthony B. Sanders reported (in December 2010): ...
According to business journalist Kimberly Amadeo, when did the first signs of decline in real estate occur?
{ "text": [ "2006" ], "answer_start": [ 742 ] }
57332627d058e614000b5747
Financial_crisis_of_2007%E2%80%9308
Krugman's contention (that the growth of a commercial real estate bubble indicates that U.S. housing policy was not the cause of the crisis) is challenged by additional analysis. After researching the default of commercial loans during the financial crisis, Xudong An and Anthony B. Sanders reported (in December 2010): ...
What are CMBS?
{ "text": [ "commercial mortgage-backed securities" ], "answer_start": [ 386 ] }
57332627d058e614000b5748
Financial_crisis_of_2007%E2%80%9308
Krugman's contention (that the growth of a commercial real estate bubble indicates that U.S. housing policy was not the cause of the crisis) is challenged by additional analysis. After researching the default of commercial loans during the financial crisis, Xudong An and Anthony B. Sanders reported (in December 2010): ...
According to most analysts, what crisis took place after the crisis in residential real estate?
{ "text": [ "the crisis in commercial real estate" ], "answer_start": [ 517 ] }
573328a6d058e614000b574e
Financial_crisis_of_2007%E2%80%9308
In a Peabody Award winning program, NPR correspondents argued that a "Giant Pool of Money" (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. This pool of money had roughly doubled in size from 2000 to 2007, yet the sup...
What is one investment assigned safe ratings by the credit rating agencies?
{ "text": [ "collateralized debt obligation" ], "answer_start": [ 509 ] }
573328a6d058e614000b574f
Financial_crisis_of_2007%E2%80%9308
In a Peabody Award winning program, NPR correspondents argued that a "Giant Pool of Money" (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. This pool of money had roughly doubled in size from 2000 to 2007, yet the sup...
How much was invested worldwide in fixed income investments?
{ "text": [ "$70 trillion" ], "answer_start": [ 107 ] }
573328a6d058e614000b5750
Financial_crisis_of_2007%E2%80%9308
In a Peabody Award winning program, NPR correspondents argued that a "Giant Pool of Money" (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. This pool of money had roughly doubled in size from 2000 to 2007, yet the sup...
How much did the pool of money invested worldwide in fixed income investments grow in size from 2000 to 2007?
{ "text": [ "roughly doubled in size" ], "answer_start": [ 266 ] }
573328a6d058e614000b5751
Financial_crisis_of_2007%E2%80%9308
In a Peabody Award winning program, NPR correspondents argued that a "Giant Pool of Money" (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. This pool of money had roughly doubled in size from 2000 to 2007, yet the sup...
What is an example of a product Wall Street invented to answer the demand for income generating investments?
{ "text": [ "mortgage-backed security" ], "answer_start": [ 476 ] }
573328a6d058e614000b5752
Financial_crisis_of_2007%E2%80%9308
In a Peabody Award winning program, NPR correspondents argued that a "Giant Pool of Money" (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. This pool of money had roughly doubled in size from 2000 to 2007, yet the sup...
In the 2000s, investors were seeking higher yields than those offered by this investment?
{ "text": [ "U.S. Treasury bonds" ], "answer_start": [ 202 ] }
57332ba74776f41900660730
Financial_crisis_of_2007%E2%80%9308
The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance subprime and other lending, extending or increasing the housing bubble and generating large fees. This essentially places cash payments from multiple mortgages or other debt obligations into a single pool...
What is the name of the securities that enabled financial institutions to obtain investor funds to finance subprime?
{ "text": [ "collateralized debt obligation" ], "answer_start": [ 4 ] }
57332ba74776f41900660731
Financial_crisis_of_2007%E2%80%9308
The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance subprime and other lending, extending or increasing the housing bubble and generating large fees. This essentially places cash payments from multiple mortgages or other debt obligations into a single pool...
What was the outcome of collateralized debt obligations?
{ "text": [ "extending or increasing the housing bubble" ], "answer_start": [ 144 ] }
57332ba74776f41900660732
Financial_crisis_of_2007%E2%80%9308
The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance subprime and other lending, extending or increasing the housing bubble and generating large fees. This essentially places cash payments from multiple mortgages or other debt obligations into a single pool...
What type ratings did securities first in line receive from rating agencies?
{ "text": [ "investment-grade ratings" ], "answer_start": [ 433 ] }
57332ba74776f41900660733
Financial_crisis_of_2007%E2%80%9308
The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance subprime and other lending, extending or increasing the housing bubble and generating large fees. This essentially places cash payments from multiple mortgages or other debt obligations into a single pool...
What type pool do collateralized debt obligations place their payments from mortgages into?
{ "text": [ "single pool" ], "answer_start": [ 309 ] }
57332ba74776f41900660734
Financial_crisis_of_2007%E2%80%9308
The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance subprime and other lending, extending or increasing the housing bubble and generating large fees. This essentially places cash payments from multiple mortgages or other debt obligations into a single pool...
What securities had lower credit ratings but potentially a higher rate of return?
{ "text": [ "Securities with lower priority" ], "answer_start": [ 480 ] }
57332d064776f4190066074e
Financial_crisis_of_2007%E2%80%9308
By September 2008, average U.S. housing prices had declined by over 20% from their mid-2006 peak. As prices declined, borrowers with adjustable-rate mortgages could not refinance to avoid the higher payments associated with rising interest rates and began to default. During 2007, lenders began foreclosure proceedings o...
How much had average U.S. housing prices declined by September 2008?
{ "text": [ "over 20%" ], "answer_start": [ 63 ] }
57332d064776f4190066074f
Financial_crisis_of_2007%E2%80%9308
By September 2008, average U.S. housing prices had declined by over 20% from their mid-2006 peak. As prices declined, borrowers with adjustable-rate mortgages could not refinance to avoid the higher payments associated with rising interest rates and began to default. During 2007, lenders began foreclosure proceedings o...
When was the peak of U.S. housing prices?
{ "text": [ "mid-2006" ], "answer_start": [ 83 ] }
57332d064776f41900660750
Financial_crisis_of_2007%E2%80%9308
By September 2008, average U.S. housing prices had declined by over 20% from their mid-2006 peak. As prices declined, borrowers with adjustable-rate mortgages could not refinance to avoid the higher payments associated with rising interest rates and began to default. During 2007, lenders began foreclosure proceedings o...
How many foreclosure proceedings were initiated by lenders in 2007?
{ "text": [ "nearly 1.3 million" ], "answer_start": [ 322 ] }
57332d064776f41900660751
Financial_crisis_of_2007%E2%80%9308
By September 2008, average U.S. housing prices had declined by over 20% from their mid-2006 peak. As prices declined, borrowers with adjustable-rate mortgages could not refinance to avoid the higher payments associated with rising interest rates and began to default. During 2007, lenders began foreclosure proceedings o...
What was the percentage increase on foreclosure proceedings from 2007 to 2008?
{ "text": [ "81%" ], "answer_start": [ 421 ] }
57332d064776f41900660752
Financial_crisis_of_2007%E2%80%9308
By September 2008, average U.S. housing prices had declined by over 20% from their mid-2006 peak. As prices declined, borrowers with adjustable-rate mortgages could not refinance to avoid the higher payments associated with rising interest rates and began to default. During 2007, lenders began foreclosure proceedings o...
How many U.S. mortgages were either delinquent or in foreclosure by September 2009?
{ "text": [ "14.4%" ], "answer_start": [ 578 ] }
573332054776f41900660774
Financial_crisis_of_2007%E2%80%9308
Lower interest rates encouraged borrowing. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%. This was done to soften the effects of the collapse of the dot-com bubble and the September 2001 terrorist attacks, as well as to combat a perceived risk of deflation. As early as 2...
Was was the federal funds rate target lowered to by the Federal Reserve in 2003?
{ "text": [ "1.0%" ], "answer_start": [ 133 ] }
573332054776f41900660775
Financial_crisis_of_2007%E2%80%9308
Lower interest rates encouraged borrowing. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%. This was done to soften the effects of the collapse of the dot-com bubble and the September 2001 terrorist attacks, as well as to combat a perceived risk of deflation. As early as 2...
What is one reason the Federal Reserve lowered the federal funds rate target to 1.0% in 2003?
{ "text": [ "to combat a perceived risk of deflation" ], "answer_start": [ 266 ] }
573332054776f41900660776
Financial_crisis_of_2007%E2%80%9308
Lower interest rates encouraged borrowing. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%. This was done to soften the effects of the collapse of the dot-com bubble and the September 2001 terrorist attacks, as well as to combat a perceived risk of deflation. As early as 2...
In the early 2000s, what type bubble did some economists believe the Fed needed to create to replace the Nasdaq bubble?
{ "text": [ "a housing bubble" ], "answer_start": [ 479 ] }
573332054776f41900660777
Financial_crisis_of_2007%E2%80%9308
Lower interest rates encouraged borrowing. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%. This was done to soften the effects of the collapse of the dot-com bubble and the September 2001 terrorist attacks, as well as to combat a perceived risk of deflation. As early as 2...
What contributed greatly to the severity of the financial crisis of 2007?
{ "text": [ "excessive credit growth" ], "answer_start": [ 600 ] }
573332054776f41900660778
Financial_crisis_of_2007%E2%80%9308
Lower interest rates encouraged borrowing. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%. This was done to soften the effects of the collapse of the dot-com bubble and the September 2001 terrorist attacks, as well as to combat a perceived risk of deflation. As early as 2...
What encouraged borrowing from 2000 to 2003?
{ "text": [ "Lower interest rates" ], "answer_start": [ 0 ] }
573334094776f41900660786
Financial_crisis_of_2007%E2%80%9308
Bernanke explained that between 1996 and 2004, the U.S. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP. Financing these deficits required the country to borrow large sums from abroad, much of it from countries running trade surpluses. These were mainly the emerging economies in Asia and oil...
Per Bernanke, how much did the U.S. current account deficit increase between 1996 and 2004?
{ "text": [ "$650 billion" ], "answer_start": [ 93 ] }
573334094776f41900660787
Financial_crisis_of_2007%E2%80%9308
Bernanke explained that between 1996 and 2004, the U.S. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP. Financing these deficits required the country to borrow large sums from abroad, much of it from countries running trade surpluses. These were mainly the emerging economies in Asia and oil...
What percentage of GDP was the U.S. current account deficit in 2004?
{ "text": [ "5.8%" ], "answer_start": [ 120 ] }
573334094776f41900660788
Financial_crisis_of_2007%E2%80%9308
Bernanke explained that between 1996 and 2004, the U.S. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP. Financing these deficits required the country to borrow large sums from abroad, much of it from countries running trade surpluses. These were mainly the emerging economies in Asia and oil...
What emerging economies did the U.S. borrow money from between 1996 and 2004 to finance its imports?
{ "text": [ "Asia and oil-exporting nations" ], "answer_start": [ 308 ] }
573334094776f41900660789
Financial_crisis_of_2007%E2%80%9308
Bernanke explained that between 1996 and 2004, the U.S. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP. Financing these deficits required the country to borrow large sums from abroad, much of it from countries running trade surpluses. These were mainly the emerging economies in Asia and oil...
What type account is needed by the U.S. to balance an account deficit?
{ "text": [ "capital account" ], "answer_start": [ 462 ] }
573334094776f4190066078a
Financial_crisis_of_2007%E2%80%9308
Bernanke explained that between 1996 and 2004, the U.S. current account deficit increased by $650 billion, from 1.5% to 5.8% of GDP. Financing these deficits required the country to borrow large sums from abroad, much of it from countries running trade surpluses. These were mainly the emerging economies in Asia and oil...
Where did the U.S. obtain capital to finance its imports?
{ "text": [ "foreign funds" ], "answer_start": [ 554 ] }
573335cbd058e614000b5780
Financial_crisis_of_2007%E2%80%9308
The Fed then raised the Fed funds rate significantly between July 2004 and July 2006. This contributed to an increase in 1-year and 5-year adjustable-rate mortgage (ARM) rates, making ARM interest rate resets more expensive for homeowners. This may have also contributed to the deflating of the housing bubble, as asset ...
When did the Fed begin raising Fed funds rate significantly?
{ "text": [ "July 2004" ], "answer_start": [ 61 ] }
573335cbd058e614000b5781
Financial_crisis_of_2007%E2%80%9308
The Fed then raised the Fed funds rate significantly between July 2004 and July 2006. This contributed to an increase in 1-year and 5-year adjustable-rate mortgage (ARM) rates, making ARM interest rate resets more expensive for homeowners. This may have also contributed to the deflating of the housing bubble, as asset ...
What does ARM stand for:
{ "text": [ "adjustable-rate mortgage" ], "answer_start": [ 139 ] }
573335cbd058e614000b5782
Financial_crisis_of_2007%E2%80%9308
The Fed then raised the Fed funds rate significantly between July 2004 and July 2006. This contributed to an increase in 1-year and 5-year adjustable-rate mortgage (ARM) rates, making ARM interest rate resets more expensive for homeowners. This may have also contributed to the deflating of the housing bubble, as asset ...
How do asset prices generally move in relation to interest rates?
{ "text": [ "inversely" ], "answer_start": [ 342 ] }
573335cbd058e614000b5783
Financial_crisis_of_2007%E2%80%9308
The Fed then raised the Fed funds rate significantly between July 2004 and July 2006. This contributed to an increase in 1-year and 5-year adjustable-rate mortgage (ARM) rates, making ARM interest rate resets more expensive for homeowners. This may have also contributed to the deflating of the housing bubble, as asset ...
Beginning in July 2004, what did the Fed do to make ARM rates more expensive for homeowners?
{ "text": [ "raised the Fed funds rate" ], "answer_start": [ 13 ] }
573335cbd058e614000b5784
Financial_crisis_of_2007%E2%80%9308
The Fed then raised the Fed funds rate significantly between July 2004 and July 2006. This contributed to an increase in 1-year and 5-year adjustable-rate mortgage (ARM) rates, making ARM interest rate resets more expensive for homeowners. This may have also contributed to the deflating of the housing bubble, as asset ...
How did U.S. housing and financial assets react to the housing bubble burst?
{ "text": [ "dramatically declined in value" ], "answer_start": [ 452 ] }
573337db4776f41900660798
Financial_crisis_of_2007%E2%80%9308
Testimony given to the Financial Crisis Inquiry Commission by Richard M. Bowen III on events during his tenure as the Business Chief Underwriter for Correspondent Lending in the Consumer Lending Group for Citigroup (where he was responsible for over 220 professional underwriters) suggests that by the final years of the...
Richard M. Bowen III testified to the Financial Crisis Inquiry Commission regarding his tenure at which financial institution?
{ "text": [ "Citigroup" ], "answer_start": [ 205 ] }
573337db4776f41900660799
Financial_crisis_of_2007%E2%80%9308
Testimony given to the Financial Crisis Inquiry Commission by Richard M. Bowen III on events during his tenure as the Business Chief Underwriter for Correspondent Lending in the Consumer Lending Group for Citigroup (where he was responsible for over 220 professional underwriters) suggests that by the final years of the...
How many underwriters was Richard M. Bowen III responsible for at Citigroup?
{ "text": [ "220" ], "answer_start": [ 250 ] }
573337db4776f4190066079a
Financial_crisis_of_2007%E2%80%9308
Testimony given to the Financial Crisis Inquiry Commission by Richard M. Bowen III on events during his tenure as the Business Chief Underwriter for Correspondent Lending in the Consumer Lending Group for Citigroup (where he was responsible for over 220 professional underwriters) suggests that by the final years of the...
What percent of mortgages purchased by Citigroup in 2006 were defective?
{ "text": [ "60%" ], "answer_start": [ 450 ] }
573337db4776f4190066079b
Financial_crisis_of_2007%E2%80%9308
Testimony given to the Financial Crisis Inquiry Commission by Richard M. Bowen III on events during his tenure as the Business Chief Underwriter for Correspondent Lending in the Consumer Lending Group for Citigroup (where he was responsible for over 220 professional underwriters) suggests that by the final years of the...
In 2006, how many mortgage companies were contractually responsible to meet Citi's standards?
{ "text": [ "1,600" ], "answer_start": [ 665 ] }