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What economist believed that regulations did not keep up with financial innovation? | <text>What economist believed that regulations did not keep up with financial innovation?</text><reasoning>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 s... |
Who was the U.S. Treasury Secretary dealing with the aftermath of the financial crisis of 2007? | <text>Who was the U.S. Treasury Secretary dealing with the aftermath of the financial crisis of 2007?</text><reasoning>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 importa... |
Which group's study suggested that Basel accords encourage unconventional business practices? | <text>Which group's study suggested that Basel accords encourage unconventional business practices?</text><reasoning>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 importanc... |
It has been argued that what did not keep up with financial innovation? | <text>It has been argued that what did not keep up with financial innovation?</text><reasoning>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 bankin... |
What accords possibly contributed to or reinforced the financial crisis? | <text>What accords possibly contributed to or reinforced the financial crisis?</text><reasoning>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 banki... |
What is the name of the securities that enabled financial institutions to obtain investor funds to finance subprime? | <text>What is the name of the securities that enabled financial institutions to obtain investor funds to finance subprime?</text><reasoning>The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance subprime and other lending, extending or increasing the housing ... |
What was the outcome of collateralized debt obligations? | <text>What was the outcome of collateralized debt obligations?</text><reasoning>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 ca... |
What type ratings did securities first in line receive from rating agencies? | <text>What type ratings did securities first in line receive from rating agencies?</text><reasoning>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 e... |
What type pool do collateralized debt obligations place their payments from mortgages into? | <text>What type pool do collateralized debt obligations place their payments from mortgages into?</text><reasoning>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 lar... |
What securities had lower credit ratings but potentially a higher rate of return? | <text>What securities had lower credit ratings but potentially a higher rate of return?</text><reasoning>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. T... |
Was was the federal funds rate target lowered to by the Federal Reserve in 2003? | <text>Was was the federal funds rate target lowered to by the Federal Reserve in 2003?</text><reasoning>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... |
What is one reason the Federal Reserve lowered the federal funds rate target to 1.0% in 2003? | <text>What is one reason the Federal Reserve lowered the federal funds rate target to 1.0% in 2003?</text><reasoning>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-c... |
In the early 2000s, what type bubble did some economists believe the Fed needed to create to replace the Nasdaq bubble? | <text>In the early 2000s, what type bubble did some economists believe the Fed needed to create to replace the Nasdaq bubble?</text><reasoning>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... |
What contributed greatly to the severity of the financial crisis of 2007? | <text>What contributed greatly to the severity of the financial crisis of 2007?</text><reasoning>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 Se... |
What encouraged borrowing from 2000 to 2003? | <text>What encouraged borrowing from 2000 to 2003?</text><reasoning>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 attack... |
Who was the largest residential loan due diligence and securitization surveillance company? | <text>Who was the largest residential loan due diligence and securitization surveillance company?</text><reasoning>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... |
According to Clayton Holdings, how many mortgages issued from January 2006 to June 2007 met underwriting standards? | <text>According to Clayton Holdings, how many mortgages issued from January 2006 to June 2007 met underwriting standards?</text><reasoning>In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in the ... |
How many investment and commercial banks were included in Clayton Holdings' analysis of January 2006 to June 2007 loans? | <text>How many investment and commercial banks were included in Clayton Holdings' analysis of January 2006 to June 2007 loans?</text><reasoning>In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surveillance company in... |
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? | <text>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?</text><reasoning>In separate testimony to Financial Crisis Inquiry Commission, officers of Clayton Holdings—the largest residential loan due diligence and securitization surve... |
How many mortgage loans did Clayton Holdings review in their analysis? | <text>How many mortgage loans did Clayton Holdings review in their analysis?</text><reasoning>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 Clayt... |
Who sued Countrywide for unfair business practices and false advertising? | <text>Who sued Countrywide for unfair business practices and false advertising?</text><reasoning>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 allo... |
What type mortgages allowed homeowners to make interest-only payments? | <text>What type mortgages allowed homeowners to make interest-only payments?</text><reasoning>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... |
What happened to home equity when housing prices decreased? | <text>What happened to home equity when housing prices decreased?</text><reasoning>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... |
Who made the decision to seize Countrywide after their financial condition deteriorated? | <text>Who made the decision to seize Countrywide after their financial condition deteriorated?</text><reasoning>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 (... |
What type credit did borrowers obtaining mortgages from Countrywide have? | <text>What type credit did borrowers obtaining mortgages from Countrywide have?</text><reasoning>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 allo... |
Richard M. Bowen III testified to the Financial Crisis Inquiry Commission regarding his tenure at which financial institution? | <text>Richard M. Bowen III testified to the Financial Crisis Inquiry Commission regarding his tenure at which financial institution?</text><reasoning>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... |
How many underwriters was Richard M. Bowen III responsible for at Citigroup? | <text>How many underwriters was Richard M. Bowen III responsible for at Citigroup?</text><reasoning>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 (wher... |
What percent of mortgages purchased by Citigroup in 2006 were defective? | <text>What percent of mortgages purchased by Citigroup in 2006 were defective?</text><reasoning>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... |
In 2006, how many mortgage companies were contractually responsible to meet Citi's standards? | <text>In 2006, how many mortgage companies were contractually responsible to meet Citi's standards?</text><reasoning>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 fo... |
During 2007, what was the percent of defective mortgages not underwritten to Citi's standards? | <text>During 2007, what was the percent of defective mortgages not underwritten to Citi's standards?</text><reasoning>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 f... |
What is one investment assigned safe ratings by the credit rating agencies? | <text>What is one investment assigned safe ratings by the credit rating agencies?</text><reasoning>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... |
How much was invested worldwide in fixed income investments? | <text>How much was invested worldwide in fixed income investments?</text><reasoning>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 d... |
How much did the pool of money invested worldwide in fixed income investments grow in size from 2000 to 2007? | <text>How much did the pool of money invested worldwide in fixed income investments grow in size from 2000 to 2007?</text><reasoning>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 th... |
What is an example of a product Wall Street invented to answer the demand for income generating investments? | <text>What is an example of a product Wall Street invented to answer the demand for income generating investments?</text><reasoning>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 tho... |
In the 2000s, investors were seeking higher yields than those offered by this investment? | <text>In the 2000s, investors were seeking higher yields than those offered by this investment?</text><reasoning>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. ... |
Where was Alfred North Whitehead born? | <text>Where was Alfred North Whitehead born?</text><reasoning>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 h... |
In what year was Whitehead born? | <text>In what year was Whitehead born?</text><reasoning>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... |
Who founded Chatham House Academy? | <text>Who founded Chatham House Academy?</text><reasoning>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 himse... |
What was Whitehead's father's profession? | <text>What was Whitehead's father's profession?</text><reasoning>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. Whitehea... |
Who was Whitehead's mother? | <text>Who was Whitehead's mother?</text><reasoning>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 reca... |
Where was Alfred North Whitehead born? | <text>Where was Alfred North Whitehead born?</text><reasoning>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 h... |
What year was Whitehead born? | <text>What year was Whitehead born?</text><reasoning>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 re... |
What was Whitehead's father's profession? | <text>What was Whitehead's father's profession?</text><reasoning>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. Whitehea... |
What was Whitehead's mother's name? | <text>What was Whitehead's mother's name?</text><reasoning>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 hims... |
What was Whitehead's wife's name? | <text>What was Whitehead's wife's name?</text><reasoning>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 himsel... |
In 2008, what type collapse was feared? | <text>In 2008, what type collapse was feared?</text><reasoning>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 optimist... |
What investment bank stated on October 6 that 2008 would see a global recession lasting for at least two years? | <text>What investment bank stated on October 6 that 2008 would see a global recession lasting for at least two years?</text><reasoning>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 ... |
On October 16, 2008, how long did UBS predict the United States' recession would last? | <text>On October 16, 2008, how long did UBS predict the United States' recession would last?</text><reasoning>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 ... |
Relative to the size of its economy, what country's banking collapse was the largest experienced by any country in economic history? | <text>Relative to the size of its economy, what country's banking collapse was the largest experienced by any country in economic history?</text><reasoning>Several commentators have suggested that if the liquidity crisis continues, an extended recession or worse could occur. The continuing development of the crisis has... |
What was one of the actions taken by government to fix the financial crisis? | <text>What was one of the actions taken by government to fix the financial crisis?</text><reasoning>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 t... |
What is the name for lending that entices borrowers to enter into unsafe secured loans? | <text>What is the name for lending that entices borrowers to enter into unsafe secured loans?</text><reasoning>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 C... |
What company used a classic bait-and-switch method by advertising low interest rates? | <text>What company used a classic bait-and-switch method by advertising low interest rates?</text><reasoning>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 Cou... |
Which type loan would the consumer be put into instead of the 1% or 1.5% interest rate loan as advertised? | <text>Which type loan would the consumer be put into instead of the 1% or 1.5% interest rate loan as advertised?</text><reasoning>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 m... |
What was created when the interest charged was greater than the amount of interest paid? | <text>What was created when the interest charged was greater than the amount of interest paid?</text><reasoning>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 ... |
What type predatory lending method did Countrywide Financial use? | <text>What type predatory lending method did Countrywide Financial use?</text><reasoning>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, ... |
What did financial institutions do prior to the crisis? | <text>What did financial institutions do prior to the crisis?</text><reasoning>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... |
What type financial instruments are off-balance sheet securitization and derivatives? | <text>What type financial instruments are off-balance sheet securitization and derivatives?</text><reasoning>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 comp... |
Who bailed out financial institutions? | <text>Who bailed out financial institutions?</text><reasoning>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 s... |
Which option was nearly impossible for financial institutions to reorganize under? | <text>Which option was nearly impossible for financial institutions to reorganize under?</text><reasoning>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... |
What are the type financial instruments that were difficult for creditors and regulators to monitor? | <text>What are the type financial instruments that were difficult for creditors and regulators to monitor?</text><reasoning>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 achi... |
What firm insured obligations of various financial institutions using credit default swaps? | <text>What firm insured obligations of various financial institutions using credit default swaps?</text><reasoning>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... |
What does the abbreviation CDS stand for? | <text>What does the abbreviation CDS stand for?</text><reasoning>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 even... |
When did the government take over AIG? | <text>When did the government take over AIG?</text><reasoning>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 p... |
How much money did taxpayers provide in government support to AIG during 2008 and early 2009? | <text>How much money did taxpayers provide in government support to AIG during 2008 and early 2009?</text><reasoning>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 exchan... |
What did AIG receive for promising to pay Party A in the event that Party B defaulted? | <text>What did AIG receive for promising to pay Party A in the event that Party B defaulted?</text><reasoning>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 ... |
What is an example of something that can be detrimental if too many individuals pursue the same behavior? | <text>What is an example of something that can be detrimental if too many individuals pursue the same behavior?</text><reasoning>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 pe... |
What is it called when too many consumers attempt to save or pay down debt at the same time? | <text>What is it called when too many consumers attempt to save or pay down debt at the same time?</text><reasoning>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 consum... |
What will happen if too many consumers save or pay down debt simultaneously? | <text>What will happen if too many consumers save or pay down debt simultaneously?</text><reasoning>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... |
Who is the economist who described a "paradox of deleveraging"? | <text>Who is the economist who described a "paradox of deleveraging"?</text><reasoning>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 inc... |
Financial institutions cannot all de-leverage simultaneously without a decline in the value of this? | <text>Financial institutions cannot all de-leverage simultaneously without a decline in the value of this?</text><reasoning>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'... |
Who was the U.S. Federal Reserve vice-chair in April 2009? | <text>Who was the U.S. Federal Reserve vice-chair in April 2009?</text><reasoning>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 dema... |
What happened soon after the massive credit crunch hit? | <text>What happened soon after the massive credit crunch hit?</text><reasoning>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 ... |
What deepened the credit crunch when demand and employment fell? | <text>What deepened the credit crunch when demand and employment fell?</text><reasoning>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 a... |
What was one of the actions businesses took to preserve cash? | <text>What was one of the actions businesses took to preserve cash?</text><reasoning>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 d... |
What occurred in nearly every corner of the economy after the financial crisis of 2007? | <text>What occurred in nearly every corner of the economy after the financial crisis of 2007?</text><reasoning>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, deepe... |
Who published "Credit Correlation: Life After Copulas" in 2007? | <text>Who published "Credit Correlation: Life After Copulas" in 2007?</text><reasoning>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 represent... |
When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts? | <text>When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts?</text><reasoning>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... |
The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London? | <text>The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London?</text><reasoning>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... |
What did the volume "Credit Correlation: Life After Copulas" propose models to rectify? | <text>What did the volume "Credit Correlation: Life After Copulas" propose models to rectify?</text><reasoning>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 dynamic... |
What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs? | <text>What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs?</text><reasoning>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 dependen... |
What did market participants fail to measure accurately? | <text>What did market participants fail to measure accurately?</text><reasoning>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 mo... |
What are the reasons market participants did not understand the impact financial innovation products would have? | <text>What are the reasons market participants did not understand the impact financial innovation products would have?</text><reasoning>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 stabil... |
How much did JPMorgan estimate was the average recovery rate for high quality CDOs that had been liquidated? | <text>How much did JPMorgan estimate was the average recovery rate for high quality CDOs that had been liquidated?</text><reasoning>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 ... |
How much did JPMorgan estimate was the average recovery rate for mezzanine CDOs that had been liquidated? | <text>How much did JPMorgan estimate was the average recovery rate for mezzanine CDOs that had been liquidated?</text><reasoning>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 ... |
How much did banks estimate was the value of CDOs sold between late 2005 to the middle of 2007? | <text>How much did banks estimate was the value of CDOs sold between late 2005 to the middle of 2007?</text><reasoning>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 financ... |
When did the issuance of CDO peak? | <text>When did the issuance of CDO peak?</text><reasoning>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... |
What was the estimated value of CDO issuance in Q1 2004? | <text>What was the estimated value of CDO issuance in Q1 2004?</text><reasoning>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 subpri... |
What was the estimated value of CDO issuance at it's peak in Q1 2007? | <text>What was the estimated value of CDO issuance at it's peak in Q1 2007?</text><reasoning>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 le... |
What percent of CDO assets were subprime and other non-prime mortgage debt in 2007? | <text>What percent of CDO assets were subprime and other non-prime mortgage debt in 2007?</text><reasoning>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 2... |
What was the estimated value of CDO issuance in Q1 2008? | <text>What was the estimated value of CDO issuance in Q1 2008?</text><reasoning>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 subpri... |
When did the securitization markets supported by the shadow banking systems start to close down? | <text>When did the securitization markets supported by the shadow banking systems start to close down?</text><reasoning>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 ... |
When did the securitization markets supported by the shadow banking system nearly shut-down completely? | <text>When did the securitization markets supported by the shadow banking system nearly shut-down completely?</text><reasoning>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 m... |
How much of the private credit markets become unavailable as a source of funds? | <text>How much of the private credit markets become unavailable as a source of funds?</text><reasoning>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 unava... |
What is the firm who reported that the traditional banking system does not have capital to close the gap as of June 2009? | <text>What is the firm who reported that the traditional banking system does not have capital to close the gap as of June 2009?</text><reasoning>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 th... |
How many years would of strong profit would it take to generate enough capital to support additional lending? | <text>How many years would of strong profit would it take to generate enough capital to support additional lending?</text><reasoning>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 cr... |
What term refers to the ongoing development of financial products? | <text>What term refers to the ongoing development of financial products?</text><reasoning>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... |
What is an example of financial innovation pertinent to the financial crisis? | <text>What is an example of financial innovation pertinent to the financial crisis?</text><reasoning>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) o... |
What is the abbreviation for a form of credit insurance called credit default swaps? | <text>What is the abbreviation for a form of credit insurance called credit default swaps?</text><reasoning>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 borr... |
What is the financial innovation that bundles subprime mortgages? | <text>What is the financial innovation that bundles subprime mortgages?</text><reasoning>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 ... |
What happened to the usage of financial innovation products in the years leading up the financial crisis? | <text>What happened to the usage of financial innovation products in the years leading up the financial crisis?</text><reasoning>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 ... |
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