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57334b0b4776f4190066080b
Financial_crisis_of_2007%E2%80%9308
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets. As ...
What was the estimated value of CDO issuance in Q1 2004?
{ "text": [ "$20 billion" ], "answer_start": [ 36 ] }
57334b0b4776f4190066080c
Financial_crisis_of_2007%E2%80%9308
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets. As ...
What was the estimated value of CDO issuance at it's peak in Q1 2007?
{ "text": [ "over $180 billion" ], "answer_start": [ 74 ] }
57334b0b4776f4190066080d
Financial_crisis_of_2007%E2%80%9308
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets. As ...
What percent of CDO assets were subprime and other non-prime mortgage debt in 2007?
{ "text": [ "36%" ], "answer_start": [ 298 ] }
57334b0b4776f4190066080e
Financial_crisis_of_2007%E2%80%9308
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets. As ...
What was the estimated value of CDO issuance in Q1 2008?
{ "text": [ "under $20 billion" ], "answer_start": [ 123 ] }
57334d024776f41900660814
Financial_crisis_of_2007%E2%80%9308
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances ...
Which products created more complexity in the financial markets?
{ "text": [ "innovative financial products" ], "answer_start": [ 13 ] }
57334d024776f41900660815
Financial_crisis_of_2007%E2%80%9308
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances ...
What effect did the introduction of innovative financial products have on a single mortgage?
{ "text": [ "multiplied the number of actors connected" ], "answer_start": [ 86 ] }
57334d024776f41900660816
Financial_crisis_of_2007%E2%80%9308
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances ...
What did institutions rely more on as increasing distance from underlying assets occurred?
{ "text": [ "indirect information" ], "answer_start": [ 440 ] }
57334d024776f41900660817
Financial_crisis_of_2007%E2%80%9308
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances ...
What is a type of indirect information that financial institutions and investors used to judge the risk?
{ "text": [ "computer models of rating agencies" ], "answer_start": [ 596 ] }
57334d024776f41900660818
Financial_crisis_of_2007%E2%80%9308
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances ...
In what year did a group of computer scientists build a model for ratings produced by rating agencies that turned out to be accurate for what happened in 2006-2008?
{ "text": [ "2005" ], "answer_start": [ 776 ] }
57334ed54776f41900660828
Financial_crisis_of_2007%E2%80%9308
The pricing of risk refers to the incremental compensation required by investors for taking on additional risk, which may be measured by interest rates or fees. Several scholars have argued that a lack of transparency about banks' risk exposures prevented markets from correctly pricing risk before the crisis, enabled t...
What is a measurement of pricing of risk?
{ "text": [ "interest rates or fees" ], "answer_start": [ 137 ] }
57334ed54776f41900660829
Financial_crisis_of_2007%E2%80%9308
The pricing of risk refers to the incremental compensation required by investors for taking on additional risk, which may be measured by interest rates or fees. Several scholars have argued that a lack of transparency about banks' risk exposures prevented markets from correctly pricing risk before the crisis, enabled t...
What is the incremental compensation required by investors for taking on addition risk called?
{ "text": [ "pricing of risk" ], "answer_start": [ 4 ] }
57334ed54776f4190066082a
Financial_crisis_of_2007%E2%80%9308
The pricing of risk refers to the incremental compensation required by investors for taking on additional risk, which may be measured by interest rates or fees. Several scholars have argued that a lack of transparency about banks' risk exposures prevented markets from correctly pricing risk before the crisis, enabled t...
According to several scholars, what prevented markets from correctly pricing risk before the crisis?
{ "text": [ "lack of transparency about banks' risk exposures" ], "answer_start": [ 197 ] }
57334ed54776f4190066082b
Financial_crisis_of_2007%E2%80%9308
The pricing of risk refers to the incremental compensation required by investors for taking on additional risk, which may be measured by interest rates or fees. Several scholars have argued that a lack of transparency about banks' risk exposures prevented markets from correctly pricing risk before the crisis, enabled t...
How should risk levels have been disclosed according to several scholars?
{ "text": [ "straightforward, readily understandable format" ], "answer_start": [ 497 ] }
57334ed54776f4190066082c
Financial_crisis_of_2007%E2%80%9308
The pricing of risk refers to the incremental compensation required by investors for taking on additional risk, which may be measured by interest rates or fees. Several scholars have argued that a lack of transparency about banks' risk exposures prevented markets from correctly pricing risk before the crisis, enabled t...
What was the outcome of the financial crisis since risk levels were not adequately disclosed?
{ "text": [ "far more disruptive" ], "answer_start": [ 414 ] }
57335048d058e614000b5836
Financial_crisis_of_2007%E2%80%9308
For a variety of reasons, market participants did not accurately measure the risk inherent with financial innovation such as MBS and CDOs or understand its impact on the overall stability of the financial system. For example, the pricing model for CDOs clearly did not reflect the level of risk they introduced into the ...
What did market participants fail to measure accurately?
{ "text": [ "risk inherent with financial innovation" ], "answer_start": [ 77 ] }
57335048d058e614000b5837
Financial_crisis_of_2007%E2%80%9308
For a variety of reasons, market participants did not accurately measure the risk inherent with financial innovation such as MBS and CDOs or understand its impact on the overall stability of the financial system. For example, the pricing model for CDOs clearly did not reflect the level of risk they introduced into the ...
What are the reasons market participants did not understand the impact financial innovation products would have?
{ "text": [ "a variety of reasons" ], "answer_start": [ 4 ] }
57335048d058e614000b5838
Financial_crisis_of_2007%E2%80%9308
For a variety of reasons, market participants did not accurately measure the risk inherent with financial innovation such as MBS and CDOs or understand its impact on the overall stability of the financial system. For example, the pricing model for CDOs clearly did not reflect the level of risk they introduced into the ...
How much did JPMorgan estimate was the average recovery rate for high quality CDOs that had been liquidated?
{ "text": [ "approximately 32 cents on the dollar" ], "answer_start": [ 546 ] }
57335048d058e614000b5839
Financial_crisis_of_2007%E2%80%9308
For a variety of reasons, market participants did not accurately measure the risk inherent with financial innovation such as MBS and CDOs or understand its impact on the overall stability of the financial system. For example, the pricing model for CDOs clearly did not reflect the level of risk they introduced into the ...
How much did JPMorgan estimate was the average recovery rate for mezzanine CDOs that had been liquidated?
{ "text": [ "approximately five cents for every dollar" ], "answer_start": [ 630 ] }
57335048d058e614000b583a
Financial_crisis_of_2007%E2%80%9308
For a variety of reasons, market participants did not accurately measure the risk inherent with financial innovation such as MBS and CDOs or understand its impact on the overall stability of the financial system. For example, the pricing model for CDOs clearly did not reflect the level of risk they introduced into the ...
How much did banks estimate was the value of CDOs sold between late 2005 to the middle of 2007?
{ "text": [ "$450bn" ], "answer_start": [ 349 ] }
57335128d058e614000b584a
Financial_crisis_of_2007%E2%80%9308
Another example relates to AIG, which insured obligations of various financial institutions through the usage of credit default swaps. The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial stre...
What firm insured obligations of various financial institutions using credit default swaps?
{ "text": [ "AIG" ], "answer_start": [ 27 ] }
57335128d058e614000b584b
Financial_crisis_of_2007%E2%80%9308
Another example relates to AIG, which insured obligations of various financial institutions through the usage of credit default swaps. The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial stre...
What does the abbreviation CDS stand for?
{ "text": [ "credit default swaps" ], "answer_start": [ 113 ] }
57335128d058e614000b584c
Financial_crisis_of_2007%E2%80%9308
Another example relates to AIG, which insured obligations of various financial institutions through the usage of credit default swaps. The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial stre...
When did the government take over AIG?
{ "text": [ "September 2008" ], "answer_start": [ 426 ] }
57335128d058e614000b584d
Financial_crisis_of_2007%E2%80%9308
Another example relates to AIG, which insured obligations of various financial institutions through the usage of credit default swaps. The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial stre...
How much money did taxpayers provide in government support to AIG during 2008 and early 2009?
{ "text": [ "over $180 billion" ], "answer_start": [ 466 ] }
57335128d058e614000b584e
Financial_crisis_of_2007%E2%80%9308
Another example relates to AIG, which insured obligations of various financial institutions through the usage of credit default swaps. The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial stre...
What did AIG receive for promising to pay Party A in the event that Party B defaulted?
{ "text": [ "a premium" ], "answer_start": [ 184 ] }
573352f24776f41900660832
Financial_crisis_of_2007%E2%80%9308
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller...
Who commented that the super-boom got out of hand when products became so complicated that risk could not be accurately calculated?
{ "text": [ "George Soros" ], "answer_start": [ 354 ] }
573352f24776f41900660833
Financial_crisis_of_2007%E2%80%9308
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller...
What happened to financial assets that made them harder to value?
{ "text": [ "more complex" ], "answer_start": [ 36 ] }
573352f24776f41900660834
Financial_crisis_of_2007%E2%80%9308
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller...
Who did rating agencies rely on for information to rate financial innovation products?
{ "text": [ "the originators of synthetic products" ], "answer_start": [ 660 ] }
573352f24776f41900660835
Financial_crisis_of_2007%E2%80%9308
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller...
When authorities could no longer calculate the risks of complex financial innovation products, who did they rely on for information?
{ "text": [ "the banks" ], "answer_start": [ 569 ] }
573352f24776f41900660836
Financial_crisis_of_2007%E2%80%9308
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller...
Who reassured investors by showing the risk of complex financial innovation products was actually less than they proved to be?
{ "text": [ "international bond rating agencies" ], "answer_start": [ 133 ] }
573354414776f41900660846
Financial_crisis_of_2007%E2%80%9308
Moreover, a conflict of interest between professional investment managers and their institutional clients, combined with a global glut in investment capital, led to bad investments by asset managers in over-priced credit assets. Professional investment managers generally are compensated based on the volume of client as...
What led to bad investments by asset managers in over-priced credit assets?
{ "text": [ "a conflict of interest" ], "answer_start": [ 10 ] }
573354414776f41900660847
Financial_crisis_of_2007%E2%80%9308
Moreover, a conflict of interest between professional investment managers and their institutional clients, combined with a global glut in investment capital, led to bad investments by asset managers in over-priced credit assets. Professional investment managers generally are compensated based on the volume of client as...
Who is compensated based on the volume of client assets they have under management?
{ "text": [ "Professional investment managers" ], "answer_start": [ 229 ] }
573354414776f41900660848
Financial_crisis_of_2007%E2%80%9308
Moreover, a conflict of interest between professional investment managers and their institutional clients, combined with a global glut in investment capital, led to bad investments by asset managers in over-priced credit assets. Professional investment managers generally are compensated based on the volume of client as...
What is the incentive for asset managers to expand their assets under management?
{ "text": [ "to maximize their compensation" ], "answer_start": [ 445 ] }
573354414776f41900660849
Financial_crisis_of_2007%E2%80%9308
Moreover, a conflict of interest between professional investment managers and their institutional clients, combined with a global glut in investment capital, led to bad investments by asset managers in over-priced credit assets. Professional investment managers generally are compensated based on the volume of client as...
What did many asset managers decide to do to the detriment of their clients?
{ "text": [ "continue to invest client funds in over-priced (under-yielding) investments" ], "answer_start": [ 744 ] }
573354414776f4190066084a
Financial_crisis_of_2007%E2%80%9308
Moreover, a conflict of interest between professional investment managers and their institutional clients, combined with a global glut in investment capital, led to bad investments by asset managers in over-priced credit assets. Professional investment managers generally are compensated based on the volume of client as...
What rationale did asset managers who continued to invest in over-priced investments to the detriment of their clients use?
{ "text": [ "plausible deniability" ], "answer_start": [ 940 ] }
5733558fd058e614000b586e
Financial_crisis_of_2007%E2%80%9308
Despite the dominance of the above formula, there are documented attempts of the financial industry, occurring before the crisis, to address the formula limitations, specifically the lack of dependence dynamics and the poor representation of extreme events. The volume "Credit Correlation: Life After Copulas", published...
Who published "Credit Correlation: Life After Copulas" in 2007?
{ "text": [ "World Scientific" ], "answer_start": [ 332 ] }
5733558fd058e614000b586f
Financial_crisis_of_2007%E2%80%9308
Despite the dominance of the above formula, there are documented attempts of the financial industry, occurring before the crisis, to address the formula limitations, specifically the lack of dependence dynamics and the poor representation of extreme events. The volume "Credit Correlation: Life After Copulas", published...
When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts?
{ "text": [ "2006" ], "answer_start": [ 672 ] }
5733558fd058e614000b5870
Financial_crisis_of_2007%E2%80%9308
Despite the dominance of the above formula, there are documented attempts of the financial industry, occurring before the crisis, to address the formula limitations, specifically the lack of dependence dynamics and the poor representation of extreme events. The volume "Credit Correlation: Life After Copulas", published...
The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London?
{ "text": [ "Merrill Lynch" ], "answer_start": [ 387 ] }
5733558fd058e614000b5871
Financial_crisis_of_2007%E2%80%9308
Despite the dominance of the above formula, there are documented attempts of the financial industry, occurring before the crisis, to address the formula limitations, specifically the lack of dependence dynamics and the poor representation of extreme events. The volume "Credit Correlation: Life After Copulas", published...
What did the volume "Credit Correlation: Life After Copulas" propose models to rectify?
{ "text": [ "some of the copula limitations" ], "answer_start": [ 478 ] }
5733558fd058e614000b5872
Financial_crisis_of_2007%E2%80%9308
Despite the dominance of the above formula, there are documented attempts of the financial industry, occurring before the crisis, to address the formula limitations, specifically the lack of dependence dynamics and the poor representation of extreme events. The volume "Credit Correlation: Life After Copulas", published...
What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs?
{ "text": [ "2006" ], "answer_start": [ 672 ] }
573357204776f41900660850
Financial_crisis_of_2007%E2%80%9308
In a June 2008 speech, President and CEO of the New York Federal Reserve Bank Timothy Geithner—who in 2009 became Secretary of the United States Treasury—placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system. These ...
Who was President and CEO of the New York Federal Reserve Bank in June 2008?
{ "text": [ "Timothy Geithner" ], "answer_start": [ 78 ] }
573357204776f41900660851
Financial_crisis_of_2007%E2%80%9308
In a June 2008 speech, President and CEO of the New York Federal Reserve Bank Timothy Geithner—who in 2009 became Secretary of the United States Treasury—placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system. These ...
What year did Timothy Geithner become U.S. Treasury Secretary?
{ "text": [ "2009" ], "answer_start": [ 102 ] }
573357204776f41900660852
Financial_crisis_of_2007%E2%80%9308
In a June 2008 speech, President and CEO of the New York Federal Reserve Bank Timothy Geithner—who in 2009 became Secretary of the United States Treasury—placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system. These ...
In a June 2008 speech, Timoty Geithner placed blame for credit market freezing on which system?
{ "text": [ "\"parallel\" banking system" ], "answer_start": [ 248 ] }
573357204776f41900660853
Financial_crisis_of_2007%E2%80%9308
In a June 2008 speech, President and CEO of the New York Federal Reserve Bank Timothy Geithner—who in 2009 became Secretary of the United States Treasury—placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system. These ...
What is the "parallel" banking system also called?
{ "text": [ "shadow banking system" ], "answer_start": [ 291 ] }
573357204776f41900660854
Financial_crisis_of_2007%E2%80%9308
In a June 2008 speech, President and CEO of the New York Federal Reserve Bank Timothy Geithner—who in 2009 became Secretary of the United States Treasury—placed significant blame for the freezing of credit markets on a "run" on the entities in the "parallel" banking system, also called the shadow banking system. These ...
What is the term defined as being vulnerable by borrowing short-term in liquid markets to purchase long-term illiquid and risky assets?
{ "text": [ "maturity mismatch" ], "answer_start": [ 507 ] }
5733582fd058e614000b5882
Financial_crisis_of_2007%E2%80%9308
The securitization markets supported by the shadow banking system started to close down in the spring of 2007 and nearly shut-down in the fall of 2008. More than a third of the private credit markets thus became unavailable as a source of funds. According to the Brookings Institution, the traditional banking system doe...
When did the securitization markets supported by the shadow banking systems start to close down?
{ "text": [ "spring of 2007" ], "answer_start": [ 95 ] }
5733582fd058e614000b5883
Financial_crisis_of_2007%E2%80%9308
The securitization markets supported by the shadow banking system started to close down in the spring of 2007 and nearly shut-down in the fall of 2008. More than a third of the private credit markets thus became unavailable as a source of funds. According to the Brookings Institution, the traditional banking system doe...
When did the securitization markets supported by the shadow banking system nearly shut-down completely?
{ "text": [ "fall of 2008" ], "answer_start": [ 138 ] }
5733582fd058e614000b5884
Financial_crisis_of_2007%E2%80%9308
The securitization markets supported by the shadow banking system started to close down in the spring of 2007 and nearly shut-down in the fall of 2008. More than a third of the private credit markets thus became unavailable as a source of funds. According to the Brookings Institution, the traditional banking system doe...
How much of the private credit markets become unavailable as a source of funds?
{ "text": [ "More than a third" ], "answer_start": [ 152 ] }
5733582fd058e614000b5885
Financial_crisis_of_2007%E2%80%9308
The securitization markets supported by the shadow banking system started to close down in the spring of 2007 and nearly shut-down in the fall of 2008. More than a third of the private credit markets thus became unavailable as a source of funds. According to the Brookings Institution, the traditional banking system doe...
What is the firm who reported that the traditional banking system does not have capital to close the gap as of June 2009?
{ "text": [ "Brookings Institution" ], "answer_start": [ 263 ] }
5733582fd058e614000b5886
Financial_crisis_of_2007%E2%80%9308
The securitization markets supported by the shadow banking system started to close down in the spring of 2007 and nearly shut-down in the fall of 2008. More than a third of the private credit markets thus became unavailable as a source of funds. According to the Brookings Institution, the traditional banking system doe...
How many years would of strong profit would it take to generate enough capital to support additional lending?
{ "text": [ "a number of years" ], "answer_start": [ 393 ] }
573359544776f41900660870
Financial_crisis_of_2007%E2%80%9308
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential ...
What economist testified to the Financial Crisis Inquiry Commission in January 2010?
{ "text": [ "Mark Zandi" ], "answer_start": [ 10 ] }
573359544776f41900660871
Financial_crisis_of_2007%E2%80%9308
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential ...
In January 2010, what markets did Mark Zandi testify about that remain impaired and investors anticipate more loan losses?
{ "text": [ "securitization markets" ], "answer_start": [ 96 ] }
573359544776f41900660872
Financial_crisis_of_2007%E2%80%9308
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential ...
What was the value of CDOs at their peak in 2006?
{ "text": [ "close to $2 trillion" ], "answer_start": [ 415 ] }
573359544776f41900660873
Financial_crisis_of_2007%E2%80%9308
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential ...
What was the private issuance of CDOs in 2009?
{ "text": [ "less than $150 billion" ], "answer_start": [ 468 ] }
573359544776f41900660874
Financial_crisis_of_2007%E2%80%9308
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential ...
Almost all of the asset-backed issuance in 2009 was supported by what Federal Reserve program?
{ "text": [ "TALF" ], "answer_start": [ 574 ] }
57335b42d058e614000b58e1
Financial_crisis_of_2007%E2%80%9308
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money...
Following the collapse in the housing bubble, what happened to a number of commodity prices?
{ "text": [ "Rapid increases" ], "answer_start": [ 0 ] }
57335b42d058e614000b58e2
Financial_crisis_of_2007%E2%80%9308
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money...
How much did the price of oil increase from early 2007 to 2008?
{ "text": [ "nearly tripled from $50 to $147" ], "answer_start": [ 110 ] }
57335b42d058e614000b58e3
Financial_crisis_of_2007%E2%80%9308
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money...
What did the price of oil began doing when the financial crisis began to take hold in late 2008?
{ "text": [ "plunging" ], "answer_start": [ 174 ] }
57335b42d058e614000b58e4
Financial_crisis_of_2007%E2%80%9308
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money...
What is one of the reasons experts believe contributed to the volatilaty in oil prices in 2008?
{ "text": [ "monetary policy" ], "answer_start": [ 382 ] }
57335b42d058e614000b58e5
Financial_crisis_of_2007%E2%80%9308
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money...
Consumers tend to have less money to spend on other goods, when the price of which commodity is higher?
{ "text": [ "gasoline" ], "answer_start": [ 665 ] }
57335c77d058e614000b5907
Financial_crisis_of_2007%E2%80%9308
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as...
Who was the former director of the CFTC that testified before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008?
{ "text": [ "Michael Greenberger" ], "answer_start": [ 187 ] }
57335c77d058e614000b5908
Financial_crisis_of_2007%E2%80%9308
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as...
Who did Michael Greenberger erronesously name as a key player in speculative run-up of oil futures?
{ "text": [ "IntercontinentalExchange" ], "answer_start": [ 244 ] }
57335c77d058e614000b5909
Financial_crisis_of_2007%E2%80%9308
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as...
Who founded the Atlanta-based Intercontinental Exchange?
{ "text": [ "Goldman Sachs, Morgan Stanley and BP" ], "answer_start": [ 281 ] }
57335c77d058e614000b590a
Financial_crisis_of_2007%E2%80%9308
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as...
Who purchased the International Petroleum Exchange in 2001?
{ "text": [ "IntercontinentalExchange (ICE)" ], "answer_start": [ 464 ] }
57335c77d058e614000b590b
Financial_crisis_of_2007%E2%80%9308
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as...
Where are regulated future exchanges located?
{ "text": [ "London and New York" ], "answer_start": [ 430 ] }
57335ed14776f419006608d5
Financial_crisis_of_2007%E2%80%9308
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshapin...
Who is one of the feminist economists that believe the financial crisis revealed a crisis of mainstream economics and call for a complete reshaping of the economy?
{ "text": [ "Ailsa McKay" ], "answer_start": [ 20 ] }
57335ed14776f419006608d6
Financial_crisis_of_2007%E2%80%9308
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshapin...
Feminist economists Ailsa McKay and Margunn Bjornhold believe that the financial crisis and response reveal a crisis of ideas in this?
{ "text": [ "mainstream economics" ], "answer_start": [ 139 ] }
57335ed14776f419006608d7
Financial_crisis_of_2007%E2%80%9308
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshapin...
According to feminist economists McKay and Bjornholt, would type economics should be included in a reshaping?
{ "text": [ "feminist economics" ], "answer_start": [ 357 ] }
57335ed14776f419006608d8
Financial_crisis_of_2007%E2%80%9308
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshapin...
What do economists McKay and Bjornholt want to occur in the economy, economic theory, and economics profession?
{ "text": [ "a reshaping" ], "answer_start": [ 210 ] }
573360014776f4190066090a
Financial_crisis_of_2007%E2%80%9308
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that wa...
Who was the current Governor of the Reserve Bank of India that predicted the crisis in 2005?
{ "text": [ "Raghuram Rajan" ], "answer_start": [ 46 ] }
573360014776f4190066090b
Financial_crisis_of_2007%E2%80%9308
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that wa...
When did Raghuram Rajan become chief economist the the International Monetary Fund?
{ "text": [ "2005" ], "answer_start": [ 89 ] }
573360014776f4190066090c
Financial_crisis_of_2007%E2%80%9308
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that wa...
In 2005, where did Rajan deliver a controversial paper that was critical of the financial paper?
{ "text": [ "at a celebration honouring Alan Greenspan" ], "answer_start": [ 169 ] }
573360014776f4190066090d
Financial_crisis_of_2007%E2%80%9308
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that wa...
What was the name of Raghuram Rajan's controversial paper delivered in 2005?
{ "text": [ "\"Has Financial Development Made the World Riskier?\"" ], "answer_start": [ 371 ] }
573360014776f4190066090e
Financial_crisis_of_2007%E2%80%9308
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that wa...
What are risks called that generate severe adverse consequences with small probability but generous compensation the rest of the time?
{ "text": [ "tail risks" ], "answer_start": [ 696 ] }
5733612b4776f41900660932
Financial_crisis_of_2007%E2%80%9308
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists wi...
Who was one of the only mainstream economist to predict the financial crisis?
{ "text": [ "Raghuram Rajan" ], "answer_start": [ 78 ] }
5733612b4776f41900660933
Financial_crisis_of_2007%E2%80%9308
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists wi...
What did Raghuram Rajan speak of?
{ "text": [ "Great Moderation" ], "answer_start": [ 119 ] }
5733612b4776f41900660934
Financial_crisis_of_2007%E2%80%9308
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists wi...
Who credit 12 heterodox economists with predicting the crisis in his research credits?
{ "text": [ "Dirk Bezemer" ], "answer_start": [ 216 ] }
5733612b4776f41900660935
Financial_crisis_of_2007%E2%80%9308
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists wi...
How did the Austrian economic school regard the crisis?
{ "text": [ "as a vindication" ], "answer_start": [ 768 ] }
5733612b4776f41900660936
Financial_crisis_of_2007%E2%80%9308
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists wi...
Which former Fed Chair confessed in Congressional testimony to being forced to return to lax monetary supply?
{ "text": [ "Alan Greenspan" ], "answer_start": [ 1005 ] }
5733625f4776f41900660962
Financial_crisis_of_2007%E2%80%9308
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis...
Which magazine ran a cover story claiming that most economists failed to the the financial crisis?
{ "text": [ "BusinessWeek" ], "answer_start": [ 17 ] }
5733625f4776f41900660963
Financial_crisis_of_2007%E2%80%9308
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis...
The financial crisis of 2007 was the worst economic crisis since which crisis that occurred in the 1930s?
{ "text": [ "Great Depression" ], "answer_start": [ 137 ] }
5733625f4776f41900660964
Financial_crisis_of_2007%E2%80%9308
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis...
Which school at University of Pennsylvania examined in their online business journal why economists failed to predict the crisis?
{ "text": [ "The Wharton School" ], "answer_start": [ 168 ] }
5733625f4776f41900660965
Financial_crisis_of_2007%E2%80%9308
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis...
Which economist did the New York Times state warned of a crisis as early as September 2006?
{ "text": [ "Nouriel Roubini" ], "answer_start": [ 572 ] }
5733625f4776f41900660966
Financial_crisis_of_2007%E2%80%9308
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis...
What was economist Roubini called by the New York Times for predicting a collapse of the housing market?
{ "text": [ "\"Dr. Doom\"" ], "answer_start": [ 897 ] }
573363724776f41900660995
Financial_crisis_of_2007%E2%80%9308
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed...
Who wrote the 2007 book The Black Swan?
{ "text": [ "Nassim Nicholas Taleb" ], "answer_start": [ 41 ] }
573363724776f41900660996
Financial_crisis_of_2007%E2%80%9308
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed...
What journalist from the New York Times stated his believe in Nassim Nicholas Taleb?
{ "text": [ "David Brooks" ], "answer_start": [ 568 ] }
573363724776f41900660997
Financial_crisis_of_2007%E2%80%9308
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed...
What did Nassim Nicholas Taleb warn about for years prior to the financial crisis of 2007?
{ "text": [ "the breakdown of the banking system" ], "answer_start": [ 132 ] }
573363724776f41900660998
Financial_crisis_of_2007%E2%80%9308
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed...
What did Nassim Nicholas Taleb make a fortune on by making a big financial bet?
{ "text": [ "banking stocks" ], "answer_start": [ 456 ] }
5733651b4776f419006609bf
Financial_crisis_of_2007%E2%80%9308
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's v...
Who is the market strategist that believes distinctions exist between the current crisis and the Great Depression?
{ "text": [ "Phil Dow" ], "answer_start": [ 18 ] }
5733651b4776f419006609c0
Financial_crisis_of_2007%E2%80%9308
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's v...
How much did the Dow Jones average fall during a period of 17 months?
{ "text": [ "50%" ], "answer_start": [ 168 ] }
5733651b4776f419006609c1
Financial_crisis_of_2007%E2%80%9308
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's v...
What was the percentage the Dow Jones fell in the Great Depression?
{ "text": [ "54.7%" ], "answer_start": [ 215 ] }
5733651b4776f419006609c2
Financial_crisis_of_2007%E2%80%9308
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's v...
Who was the chief financial correspondent of The New York Times in March 2009?
{ "text": [ "Floyd Norris" ], "answer_start": [ 373 ] }
573365f4d058e614000b5a14
Financial_crisis_of_2007%E2%80%9308
One of the first victims was Northern Rock, a medium-sized British bank. The highly leveraged nature of its business led the bank to request security from the Bank of England. This in turn led to investor panic and a bank run in mid-September 2007. Calls by Liberal Democrat Treasury Spokesman Vince Cable to nationalise...
Which medium sized British bank was the first victim of the financial crisis?
{ "text": [ "Northern Rock" ], "answer_start": [ 29 ] }
573365f4d058e614000b5a15
Financial_crisis_of_2007%E2%80%9308
One of the first victims was Northern Rock, a medium-sized British bank. The highly leveraged nature of its business led the bank to request security from the Bank of England. This in turn led to investor panic and a bank run in mid-September 2007. Calls by Liberal Democrat Treasury Spokesman Vince Cable to nationalise...
Who did Northern Rock request security from?
{ "text": [ "Bank of England" ], "answer_start": [ 159 ] }
573365f4d058e614000b5a16
Financial_crisis_of_2007%E2%80%9308
One of the first victims was Northern Rock, a medium-sized British bank. The highly leveraged nature of its business led the bank to request security from the Bank of England. This in turn led to investor panic and a bank run in mid-September 2007. Calls by Liberal Democrat Treasury Spokesman Vince Cable to nationalise...
When did Northern Rock investors panic and a bank run begin?
{ "text": [ "September 2007" ], "answer_start": [ 233 ] }
573365f4d058e614000b5a17
Financial_crisis_of_2007%E2%80%9308
One of the first victims was Northern Rock, a medium-sized British bank. The highly leveraged nature of its business led the bank to request security from the Bank of England. This in turn led to investor panic and a bank run in mid-September 2007. Calls by Liberal Democrat Treasury Spokesman Vince Cable to nationalise...
When was Northern Rock taken into public hands?
{ "text": [ "February 2008" ], "answer_start": [ 364 ] }
573365f4d058e614000b5a18
Financial_crisis_of_2007%E2%80%9308
One of the first victims was Northern Rock, a medium-sized British bank. The highly leveraged nature of its business led the bank to request security from the Bank of England. This in turn led to investor panic and a bank run in mid-September 2007. Calls by Liberal Democrat Treasury Spokesman Vince Cable to nationalise...
Which bank early problems in 2007 were an indicator of the troubles that would soon befall other banks and financial institutions?
{ "text": [ "Northern Rock" ], "answer_start": [ 510 ] }
5733679bd058e614000b5a4e
Financial_crisis_of_2007%E2%80%9308
The first visible institution to run into trouble in the United States was the Southern California–based IndyMac, a spin-off of Countrywide Financial. Before its failure, IndyMac Bank was the largest savings and loan association in the Los Angeles market and the seventh largest mortgage originator in the United States....
Which financial institution was the first one visible to run into trouble in the United States?
{ "text": [ "IndyMac" ], "answer_start": [ 105 ] }
5733679bd058e614000b5a4f
Financial_crisis_of_2007%E2%80%9308
The first visible institution to run into trouble in the United States was the Southern California–based IndyMac, a spin-off of Countrywide Financial. Before its failure, IndyMac Bank was the largest savings and loan association in the Los Angeles market and the seventh largest mortgage originator in the United States....
Who was Southern California-based IndyMac a spin-off of?
{ "text": [ "Countrywide Financial" ], "answer_start": [ 128 ] }
5733679bd058e614000b5a50
Financial_crisis_of_2007%E2%80%9308
The first visible institution to run into trouble in the United States was the Southern California–based IndyMac, a spin-off of Countrywide Financial. Before its failure, IndyMac Bank was the largest savings and loan association in the Los Angeles market and the seventh largest mortgage originator in the United States....
Before its failure, which savings and loan association was the seventh largest mortgage originator in the United States?
{ "text": [ "IndyMac Bank" ], "answer_start": [ 171 ] }
5733679bd058e614000b5a51
Financial_crisis_of_2007%E2%80%9308
The first visible institution to run into trouble in the United States was the Southern California–based IndyMac, a spin-off of Countrywide Financial. Before its failure, IndyMac Bank was the largest savings and loan association in the Los Angeles market and the seventh largest mortgage originator in the United States....
On what date did IndyMac fail?
{ "text": [ "July 11, 2008" ], "answer_start": [ 352 ] }