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SQuAD
Critics such as economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner have argued that the regulatory framework did not keep pace with financial innovation, such as the increasing importance of the shadow banking system, derivatives and off-balance sheet financing. A recent OECD study suggest that bank re...
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986840d78e754045810a42d1d4e3fd8a
What economist believed that regulations did not keep up with financial innovation?
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[ "Paul Krugman" ]
SQuAD
Critics such as economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner have argued that the regulatory framework did not keep pace with financial innovation, such as the increasing importance of the shadow banking system, derivatives and off-balance sheet financing. A recent OECD study suggest that bank re...
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Who was the U.S. Treasury Secretary dealing with the aftermath of the financial crisis of 2007?
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{ "text": [ "Timothy Geithner" ], "char_spans": [ { "start": [ 67 ], "end": [ 82 ] } ], "token_spans": [ { "start": [ 10 ], "end": [ 11 ] } ] }
[ "Timothy Geithner" ]
SQuAD
Critics such as economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner have argued that the regulatory framework did not keep pace with financial innovation, such as the increasing importance of the shadow banking system, derivatives and off-balance sheet financing. A recent OECD study suggest that bank re...
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23babfc64d8a454d979ab62c7904507c
Which group's study suggested that Basel accords encourage unconventional business practices?
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{ "text": [ "OECD" ], "char_spans": [ { "start": [ 289 ], "end": [ 292 ] } ], "token_spans": [ { "start": [ 47 ], "end": [ 47 ] } ] }
[ "OECD" ]
SQuAD
Critics such as economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner have argued that the regulatory framework did not keep pace with financial innovation, such as the increasing importance of the shadow banking system, derivatives and off-balance sheet financing. A recent OECD study suggest that bank re...
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It has been argued that what did not keep up with financial innovation?
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{ "text": [ "regulatory framework" ], "char_spans": [ { "start": [ 105 ], "end": [ 124 ] } ], "token_spans": [ { "start": [ 16 ], "end": [ 17 ] } ] }
[ "regulatory framework" ]
SQuAD
Critics such as economist Paul Krugman and U.S. Treasury Secretary Timothy Geithner have argued that the regulatory framework did not keep pace with financial innovation, such as the increasing importance of the shadow banking system, derivatives and off-balance sheet financing. A recent OECD study suggest that bank re...
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What accords possibly contributed to or reinforced the financial crisis?
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{ "text": [ "Basel" ], "char_spans": [ { "start": [ 342 ], "end": [ 346 ] } ], "token_spans": [ { "start": [ 56 ], "end": [ 56 ] } ] }
[ "Basel" ]
SQuAD
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...
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0f7226c369164c1983c5091bdfe6e9c8
What is the name of the securities that enabled financial institutions to obtain investor funds to finance subprime?
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{ "text": [ "collateralized debt obligation" ], "char_spans": [ { "start": [ 4 ], "end": [ 33 ] } ], "token_spans": [ { "start": [ 1 ], "end": [ 3 ] } ] }
[ "collateralized debt obligation" ]
SQuAD
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...
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c4f24768e70e4cf28174183b9b962b4b
What was the outcome of collateralized debt obligations?
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{ "text": [ "extending or increasing the housing bubble" ], "char_spans": [ { "start": [ 144 ], "end": [ 185 ] } ], "token_spans": [ { "start": [ 20 ], "end": [ 25 ] } ] }
[ "extending or increasing the housing bubble" ]
SQuAD
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...
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What type ratings did securities first in line receive from rating agencies?
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{ "text": [ "investment-grade ratings" ], "char_spans": [ { "start": [ 433 ], "end": [ 456 ] } ], "token_spans": [ { "start": [ 65 ], "end": [ 68 ] } ] }
[ "investment-grade ratings" ]
SQuAD
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...
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7287c089228e40ab9f857d35c6cebf2b
What type pool do collateralized debt obligations place their payments from mortgages into?
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{ "text": [ "single pool" ], "char_spans": [ { "start": [ 309 ], "end": [ 319 ] } ], "token_spans": [ { "start": [ 45 ], "end": [ 46 ] } ] }
[ "single pool" ]
SQuAD
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...
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7799b47235804462ada502ed3997d405
What securities had lower credit ratings but potentially a higher rate of return?
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{ "text": [ "Securities with lower priority" ], "char_spans": [ { "start": [ 480 ], "end": [ 509 ] } ], "token_spans": [ { "start": [ 73 ], "end": [ 76 ] } ] }
[ "Securities with lower priority" ]
SQuAD
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...
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41affebf73fc4a118d7f4c1030deaed2
Was was the federal funds rate target lowered to by the Federal Reserve in 2003?
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{ "text": [ "1.0%" ], "char_spans": [ { "start": [ 133 ], "end": [ 136 ] } ], "token_spans": [ { "start": [ 24 ], "end": [ 25 ] } ] }
[ "1.0%" ]
SQuAD
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...
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0fabc1a6b56f442ebcd15a23f9f06d87
What is one reason the Federal Reserve lowered the federal funds rate target to 1.0% in 2003?
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{ "text": [ "to combat a perceived risk of deflation" ], "char_spans": [ { "start": [ 266 ], "end": [ 304 ] } ], "token_spans": [ { "start": [ 53 ], "end": [ 59 ] } ] }
[ "to combat a perceived risk of deflation" ]
SQuAD
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...
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6594a8874d5744a3a439cfdf946c82e4
In the early 2000s, what type bubble did some economists believe the Fed needed to create to replace the Nasdaq bubble?
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{ "text": [ "a housing bubble" ], "char_spans": [ { "start": [ 479 ], "end": [ 494 ] } ], "token_spans": [ { "start": [ 93 ], "end": [ 95 ] } ] }
[ "a housing bubble" ]
SQuAD
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...
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81edb5c7d1b947c68b341227f4840f7b
What contributed greatly to the severity of the financial crisis of 2007?
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{ "text": [ "excessive credit growth" ], "char_spans": [ { "start": [ 600 ], "end": [ 622 ] } ], "token_spans": [ { "start": [ 114 ], "end": [ 116 ] } ] }
[ "excessive credit growth" ]
SQuAD
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...
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842987c80ba5460ab70b19fce51b3627
What encouraged borrowing from 2000 to 2003?
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{ "text": [ "Lower interest rates" ], "char_spans": [ { "start": [ 0 ], "end": [ 19 ] } ], "token_spans": [ { "start": [ 0 ], "end": [ 2 ] } ] }
[ "Lower interest rates" ]
SQuAD
In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in the United States and Europe—testified that Clayton's review of over 900,000 mortgages issued from January 2006 to June 2007 revealed that scar...
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2b7c1fbd7b3a4184964bf0dab1dc04e1
Who was the largest residential loan due diligence and securitization surveillance company?
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{ "text": [ "Clayton Holdings" ], "char_spans": [ { "start": [ 74 ], "end": [ 89 ] } ], "token_spans": [ { "start": [ 11 ], "end": [ 12 ] } ] }
[ "Clayton Holdings" ]
SQuAD
In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in the United States and Europe—testified that Clayton's review of over 900,000 mortgages issued from January 2006 to June 2007 revealed that scar...
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According to Clayton Holdings, how many mortgages issued from January 2006 to June 2007 met underwriting standards?
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{ "text": [ "54%" ], "char_spans": [ { "start": [ 325 ], "end": [ 327 ] } ], "token_spans": [ { "start": [ 50 ], "end": [ 51 ] } ] }
[ "54%" ]
SQuAD
In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in the United States and Europe—testified that Clayton's review of over 900,000 mortgages issued from January 2006 to June 2007 revealed that scar...
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How many investment and commercial banks were included in Clayton Holdings' analysis of January 2006 to June 2007 loans?
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{ "text": [ "23" ], "char_spans": [ { "start": [ 426 ], "end": [ 427 ] } ], "token_spans": [ { "start": [ 69 ], "end": [ 69 ] } ] }
[ "23" ]
SQuAD
In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in the United States and Europe—testified that Clayton's review of over 900,000 mortgages issued from January 2006 to June 2007 revealed that scar...
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Per Clayton's analysis of loans issued from January 2006 to June 2007, what percent of loans did not meet minimal standards of any issuer?
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{ "text": [ "28%" ], "char_spans": [ { "start": [ 524 ], "end": [ 526 ] } ], "token_spans": [ { "start": [ 88 ], "end": [ 89 ] } ] }
[ "28%" ]
SQuAD
In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in the United States and Europe—testified that Clayton's review of over 900,000 mortgages issued from January 2006 to June 2007 revealed that scar...
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How many mortgage loans did Clayton Holdings review in their analysis?
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{ "text": [ "900,000" ], "char_spans": [ { "start": [ 246 ], "end": [ 252 ] } ], "token_spans": [ { "start": [ 38 ], "end": [ 38 ] } ] }
[ "900,000" ]
SQuAD
Countrywide, sued by California Attorney General Jerry Brown for "unfair business practices" and "false advertising" was making high cost mortgages "to homeowners with weak credit, adjustable rate mortgages (ARMs) that allowed homeowners to make interest-only payments". When housing prices decreased, homeowners in ARMs...
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Who sued Countrywide for unfair business practices and false advertising?
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{ "text": [ "California Attorney General Jerry Brown" ], "char_spans": [ { "start": [ 21 ], "end": [ 59 ] } ], "token_spans": [ { "start": [ 4 ], "end": [ 8 ] } ] }
[ "California Attorney General Jerry Brown" ]
SQuAD
Countrywide, sued by California Attorney General Jerry Brown for "unfair business practices" and "false advertising" was making high cost mortgages "to homeowners with weak credit, adjustable rate mortgages (ARMs) that allowed homeowners to make interest-only payments". When housing prices decreased, homeowners in ARMs...
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What type mortgages allowed homeowners to make interest-only payments?
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[ "adjustable rate mortgages (ARMs)" ]
SQuAD
Countrywide, sued by California Attorney General Jerry Brown for "unfair business practices" and "false advertising" was making high cost mortgages "to homeowners with weak credit, adjustable rate mortgages (ARMs) that allowed homeowners to make interest-only payments". When housing prices decreased, homeowners in ARMs...
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What happened to home equity when housing prices decreased?
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[ "disappeared" ]
SQuAD
Countrywide, sued by California Attorney General Jerry Brown for "unfair business practices" and "false advertising" was making high cost mortgages "to homeowners with weak credit, adjustable rate mortgages (ARMs) that allowed homeowners to make interest-only payments". When housing prices decreased, homeowners in ARMs...
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Who made the decision to seize Countrywide after their financial condition deteriorated?
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{ "text": [ "Office of Thrift Supervision" ], "char_spans": [ { "start": [ 523 ], "end": [ 550 ] } ], "token_spans": [ { "start": [ 90 ], "end": [ 93 ] } ] }
[ "Office of Thrift Supervision" ]
SQuAD
Countrywide, sued by California Attorney General Jerry Brown for "unfair business practices" and "false advertising" was making high cost mortgages "to homeowners with weak credit, adjustable rate mortgages (ARMs) that allowed homeowners to make interest-only payments". When housing prices decreased, homeowners in ARMs...
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What type credit did borrowers obtaining mortgages from Countrywide have?
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[ "weak credit" ]
SQuAD
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...
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Richard M. Bowen III testified to the Financial Crisis Inquiry Commission regarding his tenure at which financial institution?
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[ "Citigroup" ]
SQuAD
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...
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How many underwriters was Richard M. Bowen III responsible for at Citigroup?
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[ "220" ]
SQuAD
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...
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What percent of mortgages purchased by Citigroup in 2006 were defective?
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[ "60%" ]
SQuAD
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...
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In 2006, how many mortgage companies were contractually responsible to meet Citi's standards?
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[ "1,600" ]
SQuAD
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...
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During 2007, what was the percent of defective mortgages not underwritten to Citi's standards?
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[ "over 80%" ]
SQuAD
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...
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What is one investment assigned safe ratings by the credit rating agencies?
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[ "collateralized debt obligation" ]
SQuAD
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...
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How much was invested worldwide in fixed income investments?
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[ "$70 trillion" ]
SQuAD
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...
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How much did the pool of money invested worldwide in fixed income investments grow in size from 2000 to 2007?
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[ "roughly doubled in size" ]
SQuAD
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...
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What is an example of a product Wall Street invented to answer the demand for income generating investments?
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[ "mortgage-backed security" ]
SQuAD
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...
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In the 2000s, investors were seeking higher yields than those offered by this investment?
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SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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Where was Alfred North Whitehead born?
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[ "Ramsgate, Kent, England" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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In what year was Whitehead born?
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[ "1861" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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Who founded Chatham House Academy?
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[ "Thomas Whitehead, Alfred North's grandfather" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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What was Whitehead's father's profession?
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[ "minister and schoolmaster of Chatham House Academy" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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Who was Whitehead's mother?
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{ "text": [ "Maria Sarah Whitehead, formerly Maria Sarah Buckmaster" ], "char_spans": [ { "start": [ 407 ], "end": [ 460 ] } ], "token_spans": [ { "start": [ 72 ], "end": [ 79 ] } ] }
[ "Maria Sarah Whitehead, formerly Maria Sarah Buckmaster" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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Where was Alfred North Whitehead born?
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[ "Ramsgate, Kent, England" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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What year was Whitehead born?
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[ "1861" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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What was Whitehead's father's profession?
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[ "minister and schoolmaster" ]
SQuAD
Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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What was Whitehead's mother's name?
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[ "Maria Sarah Whitehead," ]
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Alfred North Whitehead was born in Ramsgate, Kent, England, in 1861. His father, Alfred Whitehead, was a minister and schoolmaster of Chatham House Academy, a successful school for boys established by Thomas Whitehead, Alfred North's grandfather. Whitehead himself recalled both of them as being very successful schoolma...
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What was Whitehead's wife's name?
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[ "Evelyn" ]
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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...
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In 2008, what type collapse was feared?
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[ "global economic collapse" ]
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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...
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What investment bank stated on October 6 that 2008 would see a global recession lasting for at least two years?
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[ "UBS" ]
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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...
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On October 16, 2008, how long did UBS predict the United States' recession would last?
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[ "three quarters" ]
SQuAD
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...
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Relative to the size of its economy, what country's banking collapse was the largest experienced by any country in economic history?
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[ "Iceland" ]
SQuAD
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...
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What was one of the actions taken by government to fix the financial crisis?
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[ "capital injection" ]
SQuAD
Predatory lending refers to the practice of unscrupulous lenders, enticing borrowers to enter into "unsafe" or "unsound" secured loans for inappropriate purposes. A classic bait-and-switch method was used by Countrywide Financial, advertising low interest rates for home refinancing. Such loans were written into extensi...
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What is the name for lending that entices borrowers to enter into unsafe secured loans?
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{ "text": [ "Predatory lending" ], "char_spans": [ { "start": [ 0 ], "end": [ 16 ] } ], "token_spans": [ { "start": [ 0 ], "end": [ 1 ] } ] }
[ "Predatory lending" ]
SQuAD
Predatory lending refers to the practice of unscrupulous lenders, enticing borrowers to enter into "unsafe" or "unsound" secured loans for inappropriate purposes. A classic bait-and-switch method was used by Countrywide Financial, advertising low interest rates for home refinancing. Such loans were written into extensi...
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What company used a classic bait-and-switch method by advertising low interest rates?
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{ "text": [ "Countrywide Financial" ], "char_spans": [ { "start": [ 208 ], "end": [ 228 ] } ], "token_spans": [ { "start": [ 39 ], "end": [ 40 ] } ] }
[ "Countrywide Financial" ]
SQuAD
Predatory lending refers to the practice of unscrupulous lenders, enticing borrowers to enter into "unsafe" or "unsound" secured loans for inappropriate purposes. A classic bait-and-switch method was used by Countrywide Financial, advertising low interest rates for home refinancing. Such loans were written into extensi...
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Which type loan would the consumer be put into instead of the 1% or 1.5% interest rate loan as advertised?
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{ "text": [ "adjustable rate mortgage (ARM)" ], "char_spans": [ { "start": [ 528 ], "end": [ 557 ] } ], "token_spans": [ { "start": [ 95 ], "end": [ 100 ] } ] }
[ "adjustable rate mortgage (ARM)" ]
SQuAD
Predatory lending refers to the practice of unscrupulous lenders, enticing borrowers to enter into "unsafe" or "unsound" secured loans for inappropriate purposes. A classic bait-and-switch method was used by Countrywide Financial, advertising low interest rates for home refinancing. Such loans were written into extensi...
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What was created when the interest charged was greater than the amount of interest paid?
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[ "negative amortization" ]
SQuAD
Predatory lending refers to the practice of unscrupulous lenders, enticing borrowers to enter into "unsafe" or "unsound" secured loans for inappropriate purposes. A classic bait-and-switch method was used by Countrywide Financial, advertising low interest rates for home refinancing. Such loans were written into extensi...
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What type predatory lending method did Countrywide Financial use?
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{ "text": [ "classic bait-and-switch" ], "char_spans": [ { "start": [ 165 ], "end": [ 187 ] } ], "token_spans": [ { "start": [ 29 ], "end": [ 34 ] } ] }
[ "classic bait-and-switch" ]
SQuAD
Prior to the crisis, financial institutions became highly leveraged, increasing their appetite for risky investments and reducing their resilience in case of losses. Much of this leverage was achieved using complex financial instruments such as off-balance sheet securitization and derivatives, which made it difficult f...
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What did financial institutions do prior to the crisis?
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[ "became highly leveraged" ]
SQuAD
Prior to the crisis, financial institutions became highly leveraged, increasing their appetite for risky investments and reducing their resilience in case of losses. Much of this leverage was achieved using complex financial instruments such as off-balance sheet securitization and derivatives, which made it difficult f...
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What type financial instruments are off-balance sheet securitization and derivatives?
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[ "complex" ]
SQuAD
Prior to the crisis, financial institutions became highly leveraged, increasing their appetite for risky investments and reducing their resilience in case of losses. Much of this leverage was achieved using complex financial instruments such as off-balance sheet securitization and derivatives, which made it difficult f...
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Who bailed out financial institutions?
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[ "government" ]
SQuAD
Prior to the crisis, financial institutions became highly leveraged, increasing their appetite for risky investments and reducing their resilience in case of losses. Much of this leverage was achieved using complex financial instruments such as off-balance sheet securitization and derivatives, which made it difficult f...
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Which option was nearly impossible for financial institutions to reorganize under?
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{ "text": [ "bankruptcy" ], "char_spans": [ { "start": [ 504 ], "end": [ 513 ] } ], "token_spans": [ { "start": [ 77 ], "end": [ 77 ] } ] }
[ "bankruptcy" ]
SQuAD
Prior to the crisis, financial institutions became highly leveraged, increasing their appetite for risky investments and reducing their resilience in case of losses. Much of this leverage was achieved using complex financial instruments such as off-balance sheet securitization and derivatives, which made it difficult f...
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What are the type financial instruments that were difficult for creditors and regulators to monitor?
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[ "complex financial instruments" ]
SQuAD
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...
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What firm insured obligations of various financial institutions using credit default swaps?
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{ "text": [ "AIG" ], "char_spans": [ { "start": [ 27 ], "end": [ 29 ] } ], "token_spans": [ { "start": [ 4 ], "end": [ 4 ] } ] }
[ "AIG" ]
SQuAD
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...
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What does the abbreviation CDS stand for?
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{ "text": [ "credit default swaps" ], "char_spans": [ { "start": [ 113 ], "end": [ 132 ] } ], "token_spans": [ { "start": [ 17 ], "end": [ 19 ] } ] }
[ "credit default swaps" ]
SQuAD
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...
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When did the government take over AIG?
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{ "text": [ "September 2008" ], "char_spans": [ { "start": [ 426 ], "end": [ 439 ] } ], "token_spans": [ { "start": [ 75 ], "end": [ 76 ] } ] }
[ "September 2008" ]
SQuAD
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...
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How much money did taxpayers provide in government support to AIG during 2008 and early 2009?
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{ "text": [ "over $180 billion" ], "char_spans": [ { "start": [ 466 ], "end": [ 482 ] } ], "token_spans": [ { "start": [ 81 ], "end": [ 84 ] } ] }
[ "over $180 billion" ]
SQuAD
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...
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What did AIG receive for promising to pay Party A in the event that Party B defaulted?
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{ "text": [ "a premium" ], "char_spans": [ { "start": [ 184 ], "end": [ 192 ] } ], "token_spans": [ { "start": [ 28 ], "end": [ 29 ] } ] }
[ "a premium" ]
SQuAD
Behavior that may be optimal for an individual (e.g., saving more during adverse economic conditions) can be detrimental if too many individuals pursue the same behavior, as ultimately one person's consumption is another person's income. Too many consumers attempting to save (or pay down debt) simultaneously is called ...
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What is an example of something that can be detrimental if too many individuals pursue the same behavior?
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{ "text": [ "saving more during adverse economic conditions" ], "char_spans": [ { "start": [ 54 ], "end": [ 99 ] } ], "token_spans": [ { "start": [ 11 ], "end": [ 16 ] } ] }
[ "saving more during adverse economic conditions" ]
SQuAD
Behavior that may be optimal for an individual (e.g., saving more during adverse economic conditions) can be detrimental if too many individuals pursue the same behavior, as ultimately one person's consumption is another person's income. Too many consumers attempting to save (or pay down debt) simultaneously is called ...
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What is it called when too many consumers attempt to save or pay down debt at the same time?
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{ "text": [ "paradox of thrift" ], "char_spans": [ { "start": [ 324 ], "end": [ 340 ] } ], "token_spans": [ { "start": [ 58 ], "end": [ 60 ] } ] }
[ "paradox of thrift" ]
SQuAD
Behavior that may be optimal for an individual (e.g., saving more during adverse economic conditions) can be detrimental if too many individuals pursue the same behavior, as ultimately one person's consumption is another person's income. Too many consumers attempting to save (or pay down debt) simultaneously is called ...
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What will happen if too many consumers save or pay down debt simultaneously?
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{ "text": [ "can cause or deepen a recession" ], "char_spans": [ { "start": [ 346 ], "end": [ 376 ] } ], "token_spans": [ { "start": [ 62 ], "end": [ 67 ] } ] }
[ "can cause or deepen a recession" ]
SQuAD
Behavior that may be optimal for an individual (e.g., saving more during adverse economic conditions) can be detrimental if too many individuals pursue the same behavior, as ultimately one person's consumption is another person's income. Too many consumers attempting to save (or pay down debt) simultaneously is called ...
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Who is the economist who described a "paradox of deleveraging"?
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{ "text": [ "Hyman Minsky" ], "char_spans": [ { "start": [ 389 ], "end": [ 400 ] } ], "token_spans": [ { "start": [ 70 ], "end": [ 71 ] } ] }
[ "Hyman Minsky" ]
SQuAD
Behavior that may be optimal for an individual (e.g., saving more during adverse economic conditions) can be detrimental if too many individuals pursue the same behavior, as ultimately one person's consumption is another person's income. Too many consumers attempting to save (or pay down debt) simultaneously is called ...
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Financial institutions cannot all de-leverage simultaneously without a decline in the value of this?
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{ "text": [ "their assets" ], "char_spans": [ { "start": [ 608 ], "end": [ 619 ] } ], "token_spans": [ { "start": [ 108 ], "end": [ 109 ] } ] }
[ "their assets" ]
SQuAD
During April 2009, U.S. Federal Reserve vice-chair Janet Yellen discussed these paradoxes: "Once this massive credit crunch hit, it didn’t take long before we were in a recession. The recession, in turn, deepened the credit crunch as demand and employment fell, and credit losses of financial institutions surged. Indeed...
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Who was the U.S. Federal Reserve vice-chair in April 2009?
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{ "text": [ "Janet Yellen" ], "char_spans": [ { "start": [ 51 ], "end": [ 62 ] } ], "token_spans": [ { "start": [ 10 ], "end": [ 11 ] } ] }
[ "Janet Yellen" ]
SQuAD
During April 2009, U.S. Federal Reserve vice-chair Janet Yellen discussed these paradoxes: "Once this massive credit crunch hit, it didn’t take long before we were in a recession. The recession, in turn, deepened the credit crunch as demand and employment fell, and credit losses of financial institutions surged. Indeed...
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What happened soon after the massive credit crunch hit?
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{ "text": [ "we were in a recession" ], "char_spans": [ { "start": [ 156 ], "end": [ 177 ] } ], "token_spans": [ { "start": [ 30 ], "end": [ 34 ] } ] }
[ "we were in a recession" ]
SQuAD
During April 2009, U.S. Federal Reserve vice-chair Janet Yellen discussed these paradoxes: "Once this massive credit crunch hit, it didn’t take long before we were in a recession. The recession, in turn, deepened the credit crunch as demand and employment fell, and credit losses of financial institutions surged. Indeed...
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What deepened the credit crunch when demand and employment fell?
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[ "recession" ]
SQuAD
During April 2009, U.S. Federal Reserve vice-chair Janet Yellen discussed these paradoxes: "Once this massive credit crunch hit, it didn’t take long before we were in a recession. The recession, in turn, deepened the credit crunch as demand and employment fell, and credit losses of financial institutions surged. Indeed...
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What was one of the actions businesses took to preserve cash?
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{ "text": [ "cancelling planned investments" ], "char_spans": [ { "start": [ 609 ], "end": [ 638 ] } ], "token_spans": [ { "start": [ 115 ], "end": [ 117 ] } ] }
[ "cancelling planned investments" ]
SQuAD
During April 2009, U.S. Federal Reserve vice-chair Janet Yellen discussed these paradoxes: "Once this massive credit crunch hit, it didn’t take long before we were in a recession. The recession, in turn, deepened the credit crunch as demand and employment fell, and credit losses of financial institutions surged. Indeed...
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What occurred in nearly every corner of the economy after the financial crisis of 2007?
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{ "text": [ "balance sheet deleveraging" ], "char_spans": [ { "start": [ 423 ], "end": [ 448 ] } ], "token_spans": [ { "start": [ 83 ], "end": [ 85 ] } ] }
[ "balance sheet deleveraging" ]
SQuAD
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...
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Who published "Credit Correlation: Life After Copulas" in 2007?
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{ "text": [ "World Scientific" ], "char_spans": [ { "start": [ 332 ], "end": [ 347 ] } ], "token_spans": [ { "start": [ 57 ], "end": [ 58 ] } ] }
[ "World Scientific" ]
SQuAD
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...
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When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts?
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{ "text": [ "2006" ], "char_spans": [ { "start": [ 672 ], "end": [ 675 ] } ], "token_spans": [ { "start": [ 112 ], "end": [ 112 ] } ] }
[ "2006" ]
SQuAD
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...
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The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London?
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{ "text": [ "Merrill Lynch" ], "char_spans": [ { "start": [ 387 ], "end": [ 399 ] } ], "token_spans": [ { "start": [ 66 ], "end": [ 67 ] } ] }
[ "Merrill Lynch" ]
SQuAD
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...
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What did the volume "Credit Correlation: Life After Copulas" propose models to rectify?
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{ "text": [ "some of the copula limitations" ], "char_spans": [ { "start": [ 478 ], "end": [ 507 ] } ], "token_spans": [ { "start": [ 78 ], "end": [ 82 ] } ] }
[ "some of the copula limitations" ]
SQuAD
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...
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What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs?
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[ "2006" ]
SQuAD
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 ...
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What did market participants fail to measure accurately?
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{ "text": [ "risk inherent with financial innovation" ], "char_spans": [ { "start": [ 77 ], "end": [ 115 ] } ], "token_spans": [ { "start": [ 13 ], "end": [ 17 ] } ] }
[ "risk inherent with financial innovation" ]
SQuAD
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 ...
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What are the reasons market participants did not understand the impact financial innovation products would have?
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{ "text": [ "a variety of reasons" ], "char_spans": [ { "start": [ 4 ], "end": [ 23 ] } ], "token_spans": [ { "start": [ 1 ], "end": [ 4 ] } ] }
[ "a variety of reasons" ]
SQuAD
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 ...
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How much did JPMorgan estimate was the average recovery rate for high quality CDOs that had been liquidated?
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{ "text": [ "approximately 32 cents on the dollar" ], "char_spans": [ { "start": [ 546 ], "end": [ 581 ] } ], "token_spans": [ { "start": [ 103 ], "end": [ 108 ] } ] }
[ "approximately 32 cents on the dollar" ]
SQuAD
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 ...
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How much did JPMorgan estimate was the average recovery rate for mezzanine CDOs that had been liquidated?
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{ "text": [ "approximately five cents for every dollar" ], "char_spans": [ { "start": [ 630 ], "end": [ 670 ] } ], "token_spans": [ { "start": [ 118 ], "end": [ 123 ] } ] }
[ "approximately five cents for every dollar" ]
SQuAD
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 ...
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How much did banks estimate was the value of CDOs sold between late 2005 to the middle of 2007?
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{ "text": [ "$450bn" ], "char_spans": [ { "start": [ 349 ], "end": [ 354 ] } ], "token_spans": [ { "start": [ 61 ], "end": [ 62 ] } ] }
[ "$450bn" ]
SQuAD
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 ...
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When did the issuance of CDO peak?
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{ "text": [ "Q1 2007" ], "char_spans": [ { "start": [ 95 ], "end": [ 101 ] } ], "token_spans": [ { "start": [ 21 ], "end": [ 22 ] } ] }
[ "Q1 2007" ]
SQuAD
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 ...
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What was the estimated value of CDO issuance in Q1 2004?
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{ "text": [ "$20 billion" ], "char_spans": [ { "start": [ 36 ], "end": [ 46 ] } ], "token_spans": [ { "start": [ 6 ], "end": [ 8 ] } ] }
[ "$20 billion" ]
SQuAD
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 ...
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What was the estimated value of CDO issuance at it's peak in Q1 2007?
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{ "text": [ "over $180 billion" ], "char_spans": [ { "start": [ 74 ], "end": [ 90 ] } ], "token_spans": [ { "start": [ 16 ], "end": [ 19 ] } ] }
[ "over $180 billion" ]
SQuAD
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 ...
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What percent of CDO assets were subprime and other non-prime mortgage debt in 2007?
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{ "text": [ "36%" ], "char_spans": [ { "start": [ 298 ], "end": [ 300 ] } ], "token_spans": [ { "start": [ 66 ], "end": [ 67 ] } ] }
[ "36%" ]
SQuAD
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 ...
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What was the estimated value of CDO issuance in Q1 2008?
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{ "text": [ "under $20 billion" ], "char_spans": [ { "start": [ 123 ], "end": [ 139 ] } ], "token_spans": [ { "start": [ 27 ], "end": [ 30 ] } ] }
[ "under $20 billion" ]
SQuAD
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...
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When did the securitization markets supported by the shadow banking systems start to close down?
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{ "text": [ "spring of 2007" ], "char_spans": [ { "start": [ 95 ], "end": [ 108 ] } ], "token_spans": [ { "start": [ 15 ], "end": [ 17 ] } ] }
[ "spring of 2007" ]
SQuAD
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...
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When did the securitization markets supported by the shadow banking system nearly shut-down completely?
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{ "text": [ "fall of 2008" ], "char_spans": [ { "start": [ 138 ], "end": [ 149 ] } ], "token_spans": [ { "start": [ 25 ], "end": [ 27 ] } ] }
[ "fall of 2008" ]
SQuAD
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...
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How much of the private credit markets become unavailable as a source of funds?
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{ "text": [ "More than a third" ], "char_spans": [ { "start": [ 152 ], "end": [ 168 ] } ], "token_spans": [ { "start": [ 29 ], "end": [ 32 ] } ] }
[ "More than a third" ]
SQuAD
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...
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What is the firm who reported that the traditional banking system does not have capital to close the gap as of June 2009?
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[ "Brookings Institution" ]
SQuAD
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...
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How many years would of strong profit would it take to generate enough capital to support additional lending?
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{ "text": [ "a number of years" ], "char_spans": [ { "start": [ 393 ], "end": [ 409 ] } ], "token_spans": [ { "start": [ 75 ], "end": [ 78 ] } ] }
[ "a number of years" ]
SQuAD
The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate...
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What term refers to the ongoing development of financial products?
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{ "text": [ "financial innovation" ], "char_spans": [ { "start": [ 9 ], "end": [ 28 ] } ], "token_spans": [ { "start": [ 2 ], "end": [ 3 ] } ] }
[ "financial innovation" ]
SQuAD
The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate...
{ "tokens": [ "The", "term", "financial", "innovation", "refers", "to", "the", "ongoing", "development", "of", "financial", "products", "designed", "to", "achieve", "particular", "client", "objectives", ",", "such", "as", "offsett...
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What is an example of financial innovation pertinent to the financial crisis?
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{ "text": [ "adjustable-rate mortgage" ], "char_spans": [ { "start": [ 305 ], "end": [ 328 ] } ], "token_spans": [ { "start": [ 50 ], "end": [ 53 ] } ] }
[ "adjustable-rate mortgage" ]
SQuAD
The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate...
{ "tokens": [ "The", "term", "financial", "innovation", "refers", "to", "the", "ongoing", "development", "of", "financial", "products", "designed", "to", "achieve", "particular", "client", "objectives", ",", "such", "as", "offsett...
1f06701a188b45b0a127328483926fdb
What is the abbreviation for a form of credit insurance called credit default swaps?
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{ "text": [ "CDS" ], "char_spans": [ { "start": [ 554 ], "end": [ 556 ] } ], "token_spans": [ { "start": [ 96 ], "end": [ 96 ] } ] }
[ "CDS" ]
SQuAD
The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate...
{ "tokens": [ "The", "term", "financial", "innovation", "refers", "to", "the", "ongoing", "development", "of", "financial", "products", "designed", "to", "achieve", "particular", "client", "objectives", ",", "such", "as", "offsett...
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What is the financial innovation that bundles subprime mortgages?
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{ "text": [ "mortgage-backed securities (MBS)" ], "char_spans": [ { "start": [ 371 ], "end": [ 402 ] } ], "token_spans": [ { "start": [ 61 ], "end": [ 67 ] } ] }
[ "mortgage-backed securities (MBS)" ]
SQuAD
The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate...
{ "tokens": [ "The", "term", "financial", "innovation", "refers", "to", "the", "ongoing", "development", "of", "financial", "products", "designed", "to", "achieve", "particular", "client", "objectives", ",", "such", "as", "offsett...
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What happened to the usage of financial innovation products in the years leading up the financial crisis?
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{ "text": [ "expanded dramatically" ], "char_spans": [ { "start": [ 588 ], "end": [ 608 ] } ], "token_spans": [ { "start": [ 104 ], "end": [ 105 ] } ] }
[ "expanded dramatically" ]