Question: Who was Southern California-based IndyMac a spin-off of?
Answer: Countrywide Financial

Question: On what date did IndyMac fail?
Answer: July 11, 2008

Question: Which financial institution was the first one visible to run into trouble in the United States?
Answer: IndyMac

Question: Before its failure, which savings and loan association was the seventh largest mortgage originator in the United States?
Answer: IndyMac Bank

Question: Who was IndyMac's parent corporation?
Answer: IndyMac Bancorp

Question: When did Moody's and Standard & Poor downgrade a significant number of IndyMac's MBS bonds?
Answer: April 2008

Question: If IndyMac's downgraded MBS bond ratings had been in effect at March 31, 2008, what would the bank's capital ratio have been?
Answer: 9.27%

Question: What was the value of IndyMac's MBS bonds retained in its MBS portfolio that were downgraded in April 2008?
Answer: $160 million

Question: What was one of the agencies that downgraded a significant number of IndyMac's MBS bonds in April 2008?
Answer: Moody's

Question: What is a well capitalized ratio?
Answer: minimum 10% risk-based

Question: Who is the Senator that asked FDIC if it had considered ordering IndyMac to reduce its reliance on brokered deposits?
Answer: Charles Schumer (D-NY)

Question: What does the abbreviation FDIC stand for?
Answer: Federal Deposit Insurance Corporation

Question: How much of IndyMac's total deposits of $18.9 billion on March 31, 2008 were considered brokered deposits?
Answer: a little over $7 billion

Question: Had the FDIC disallowed IndyMac from acquiring new brokered deposits on this date, the threat of brokered deposit losses would have been $500 million a month?
Answer: June 30

Question: How much was the threat of brokered deposit losses per month to IndyMac?
Answer: $500 million

Question: How much in deposits did account holders withdraw from IndyMac in late June 2008?
Answer: $1.55 billion

Question: What percent of IndyMac's deposits were withdrawn by account holders in late June 2008?
Answer: 7.5%

Question: What was the value of loans IndyMac was forced to hold when the secondary mortgage market collapsed in late 2007?
Answer: $10.7 billion

Question: Who is the Senator that released a letter to the FDIC and OTS that prompted a "run" on IndyMac?
Answer: Charles Schumer

Question: What was the underlying cause of the failure on IndyMac?
Answer: unsafe and unsound manner in which the thrift was operated

Question: What was the name of the bridge bank established to assume control of IndyMac Bank's assets, liabilities and deposit accounts?
Answer: IndyMac Federal Bank, FSB

Question: What is the maximum amount of funds the FDIC guarantees in insured accounts?
Answer: US$100,000

Question: How many IndyMac account holders held funds in excess of the FDIC's insured amount of US$100,000?
Answer: roughly 10,000 depositors

Question: On what date did the FDIC put IndyMac Bank into conservatorship?
Answer: July 11, 2008

Question: On what date did the FDIC plan to open IndyMac Federal Bank, FSB?
Answer: July 14, 2008

Question: How many mortgage lenders went bankrupt during 2007 and 2008?
Answer: Over 100

Question: Who is the investment bank that was feared to collapse in March 2008 and was sold in a fire-sale to JP Morgan Chase?
Answer: Bear Stearns

Question: When did the financial institution crisis hit its peak?
Answer: September and October 2008

Question: When did Lehman's former CEO appear before Representative Henry A. Waxman?
Answer: Oct. 6, 2008

Question: What firm filed the largest bankruptcy in U.S. history?
Answer: Lehman Brothers

Question: The equivalent of a bank run on which funds occurred in September 2008?
Answer: money market funds

Question: What do money market funds frequently invest in?
Answer: commercial paper issued by corporations

Question: When did the financial crisis hit its most critical stage?
Answer: September 2008

Question: How much was withdrawn from money markets during one week in September 2008?
Answer: $144.5 billion

Question: What was the record high for the TED spread on October 10, 2008?
Answer: 4.65%

Question: Economist Paul Krugman explained the credit crisis via the implosion of which system?
Answer: shadow banking system

Question: What is the system with nearly equal the importance of traditional commercial banking?
Answer: shadow banking system

Question: The shadow banking system could not provide funds to mortgage firms and other corporations without the ability to obtain which funds?
Answer: investor funds

Question: What was Timothy Geithner's position during the fall of 2008?
Answer: U.S. Treasury Secretary

Question: How much of the U.S. lending mechanism was frozen until June 2009?
Answer: nearly one-third

Question: What is the primary cause of the reduction in funds available for borrowing?
Answer: the collapse of the shadow banking system

Question: What institution reported that the traditional banking systems does not have the capital to close the gap in the lending mechanism?
Answer: Brookings Institution

Question: What is likely to vanish forever, as a result of excessively loose credit conditions?
Answer: some forms of securitization

Question: As of June 2009, the Brookings Institution reports that traditional banking system does not have enough of what to close the lending gap?
Answer: capital

Question: How much net worth did Americans lose between June 2007 and November 2008?
Answer: more than a quarter

Question: In November 2008, how much was the U.S. stock index down from its 2007 high?
Answer: 45%

Question: In November 2008, how much had housing prices drop from their 2006 peak?
Answer: 20%

Question: How much was home equity valued in the United States at its peak in 2006?
Answer: $13 trillion

Question: How much was home equity valued in the United States in mid-2008?
Answer: $8.8 trillion

Question: According to economist Dean Baker, a homeowner who has no equity if this type default risk?
Answer: serious

Question: What is one of the major problems with the economy in November 2008?
Answer: loss of close to $6 trillion in housing wealth

Question: How many homeowners who had substantial equity in their homes two years ago, have little no equity as of November 2008?
Answer: Tens of millions

Question: What does the creditworthiness of businesses depend on?
Answer: future profits

Question: How did profit prospects for businesses look in November 2008 compared to November 2007?
Answer: much worse

Question: In 2008, what type collapse was feared?
Answer: global economic collapse

Question: What investment bank stated on October 6 that 2008 would see a global recession lasting for at least two years?
Answer: UBS

Question: On October 16, 2008, how long did UBS predict the United States' recession would last?
Answer: three quarters

Question: Relative to the size of its economy, what country's banking collapse was the largest experienced by any country in economic history?
Answer: Iceland

Question: What was one of the actions taken by government to fix the financial crisis?
Answer: capital injection

Question: According to The Brookings Institution report in June 2009, how much growth did U.S. consumption account for between 2000 and 2007?
Answer: more than a third

Question: For the first quarter of 2009, what was the annualized rate of decline in GDP in Germany?
Answer: 14.4%

Question: For the first quarter of 2009, what was the annualized rate of decline in GDP in Mexico?
Answer: 21.5%

Question: Who depended on the U.S. consumer as a source of global demand?
Answer: the rest of the world

Question: What is one reason for the decline in growth around the world in 2009?
Answer: recession in the U.S.

Question: What is the growth forecast for Cambodia in 2009?
Answer: close to zero

Question: How much were remittances sent from migrant workers in 2007?
Answer: $251 billion