Question: How much did banks estimate was the value of CDOs sold between late 2005 to the middle of 2007?
Answer: $450bn

Question: What firm insured obligations of various financial institutions using credit default swaps?
Answer: AIG

Question: What does the abbreviation CDS stand for?
Answer: credit default swaps

Question: When did the government take over AIG?
Answer: September 2008

Question: How much money did taxpayers provide in government support to AIG during 2008 and early 2009?
Answer: over $180 billion

Question: What did AIG receive for promising to pay Party A in the event that Party B defaulted?
Answer: a premium

Question: Who commented that the super-boom got out of hand when products became so complicated that risk could not be accurately calculated?
Answer: George Soros

Question: What happened to financial assets that made them harder to value?
Answer: more complex

Question: Who did rating agencies rely on for information to rate financial innovation products?
Answer: the originators of synthetic products

Question: When authorities could no longer calculate the risks of complex financial innovation products, who did they rely on for information?
Answer: the banks

Question: Who reassured investors by showing the risk of complex financial innovation products was actually less than they proved to be?
Answer: international bond rating agencies

Question: Who published "Credit Correlation: Life After Copulas" in 2007?
Answer: World Scientific

Question: When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts?
Answer: 2006

Question: The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London?
Answer: Merrill Lynch

Question: What did the volume "Credit Correlation: Life After Copulas" propose models to rectify?
Answer: some of the copula limitations

Question: What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs?
Answer: 2006

Question: Who was President and CEO of the New York Federal Reserve Bank in June 2008?
Answer: Timothy Geithner

Question: What year did Timothy Geithner become U.S. Treasury Secretary?
Answer: 2009

Question: In a June 2008 speech, Timoty Geithner placed blame for credit market freezing on which system?
Answer: "parallel" banking system

Question: What is the "parallel" banking system also called?
Answer: shadow banking system

Question: What is the term defined as being vulnerable by borrowing short-term in liquid markets to purchase long-term illiquid and risky assets?
Answer: maturity mismatch

Question: When did the securitization markets supported by the shadow banking systems start to close down?
Answer: spring of 2007

Question: When did the securitization markets supported by the shadow banking system nearly shut-down completely?
Answer: fall of 2008

Question: How much of the private credit markets become unavailable as a source of funds?
Answer: More than a third

Question: What is the firm who reported that the traditional banking system does not have capital to close the gap as of June 2009?
Answer: Brookings Institution

Question: How many years would of strong profit would it take to generate enough capital to support additional lending?
Answer: a number of years

Question: What economist testified to the Financial Crisis Inquiry Commission in January 2010?
Answer: Mark Zandi

Question: In January 2010, what markets did Mark Zandi testify about that remain impaired and investors anticipate more loan losses?
Answer: securitization markets

Question: What was the value of CDOs at their peak in 2006?
Answer: close to $2 trillion

Question: What was the private issuance of CDOs in 2009?
Answer: less than $150 billion

Question: Almost all of the asset-backed issuance in 2009 was supported by what Federal Reserve program?
Answer: TALF

Question: Following the collapse in the housing bubble, what happened to a number of commodity prices?
Answer: Rapid increases

Question: How much did the price of oil increase from early 2007 to 2008?
Answer: nearly tripled from $50 to $147

Question: What did the price of oil began doing when the financial crisis began to take hold in late 2008?
Answer: plunging

Question: What is one of the reasons experts believe contributed to the volatilaty in oil prices in 2008? 
Answer: monetary policy

Question: Consumers tend to have less money to spend on other goods, when the price of which commodity is higher?
Answer: gasoline

Question: Who was the former director of the CFTC that testified before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008?
Answer: Michael Greenberger

Question: Who did Michael Greenberger erronesously name as a key player in speculative run-up of oil futures?
Answer: IntercontinentalExchange

Question: Who founded the Atlanta-based Intercontinental Exchange?
Answer: Goldman Sachs, Morgan Stanley and BP

Question: Who purchased the International Petroleum Exchange in 2001?
Answer: IntercontinentalExchange (ICE)

Question: Where are regulated future exchanges located?
Answer: London and New York

Question: Who is one of the feminist economists that believe the financial crisis revealed a crisis of mainstream economics and call for a complete reshaping of the economy?
Answer: Ailsa McKay

Question: Feminist economists Ailsa McKay and Margunn Bjornhold believe that the financial crisis and response reveal a crisis of ideas in this?
Answer: mainstream economics

Question: According to feminist economists McKay and Bjornholt, would type economics should be included in a reshaping?
Answer: feminist economics

Question: What do economists McKay and Bjornholt want to occur in the economy, economic theory, and economics profession?
Answer: a reshaping

Question: Who was the current Governor of the Reserve Bank of India that predicted the crisis in 2005?
Answer: Raghuram Rajan

Question: When did Raghuram Rajan become chief economist the the International Monetary Fund?
Answer: 2005

Question: In 2005, where did Rajan deliver a controversial paper that was critical of the financial paper?
Answer: at a celebration honouring Alan Greenspan

Question: What was the name of Raghuram Rajan's controversial paper delivered in 2005?
Answer: "Has Financial Development Made the World Riskier?"

Question: What are risks called that generate severe adverse consequences with small probability but generous compensation the rest of the time?
Answer: tail risks

Question: Who was one of the only mainstream economist to predict the financial crisis?
Answer: Raghuram Rajan

Question: What did Raghuram Rajan speak of?
Answer: Great Moderation

Question: Who credit 12 heterodox economists with predicting the crisis in his research credits?
Answer: Dirk Bezemer

Question: How did the Austrian economic school regard the crisis?
Answer: as a vindication

Question: Which former Fed Chair confessed in Congressional testimony to being forced to return to lax monetary supply?
Answer: Alan Greenspan

Question: Which magazine ran a cover story claiming that most economists failed to the the financial crisis?
Answer: BusinessWeek

Question: The financial crisis of 2007 was the worst economic crisis since which crisis that occurred in the 1930s?
Answer: Great Depression

Question: Which school at University of Pennsylvania examined in their online business journal why economists failed to predict the crisis?
Answer: The Wharton School

Question: Which economist did the New York Times state warned of a crisis as early as September 2006?
Answer: Nouriel Roubini

Question: What was economist Roubini called by the New York Times for predicting a collapse of the housing market?
Answer: "Dr. Doom"

Question: Who wrote the 2007 book The Black Swan?
Answer: Nassim Nicholas Taleb

Question: What journalist from the New York Times stated his believe in Nassim Nicholas Taleb?
Answer: David Brooks