johnmiceeee/5503h1 huggingface dataset:
user: When authorities could no longer calculate the risks of complex financial innovation products, who did they rely on for information?

assistant: the banks
user: Who reassured investors by showing the risk of complex financial innovation products was actually less than they proved to be?

assistant: international bond rating agencies
user: Who published "Credit Correlation: Life After Copulas" in 2007?

assistant: World Scientific
user: When did relevant warnings and research on CDOs appear in an article by Donnelly and Embrechts?

assistant: 2006
user: The volume "Credit Correlation: Life After Copulas" summarizes a 2006 conference held by what firm in London?

assistant: Merrill Lynch
user: What did the volume "Credit Correlation: Life After Copulas" propose models to rectify?

assistant: some of the copula limitations
user: What year did the book by Brigo, Pallavicini and Torresetti report warnings and research on CDOs?

assistant: 2006
user: Who was President and CEO of the New York Federal Reserve Bank in June 2008?

assistant: Timothy Geithner
user: What year did Timothy Geithner become U.S. Treasury Secretary?

assistant: 2009
user: In a June 2008 speech, Timoty Geithner placed blame for credit market freezing on which system?

assistant: "parallel" banking system
user: What is the term defined as being vulnerable by borrowing short-term in liquid markets to purchase long-term illiquid and risky assets?

assistant: maturity mismatch
user: When did the securitization markets supported by the shadow banking systems start to close down?

assistant: spring of 2007
user: When did the securitization markets supported by the shadow banking system nearly shut-down completely?

assistant: fall of 2008
user: How much of the private credit markets become unavailable as a source of funds?

assistant: More than a third
user: What is the firm who reported that the traditional banking system does not have capital to close the gap as of June 2009?

assistant: Brookings Institution
user: How many years would of strong profit would it take to generate enough capital to support additional lending?

assistant: a number of years
user: What economist testified to the Financial Crisis Inquiry Commission in January 2010?

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

assistant: securitization markets
user: What was the value of CDOs at their peak in 2006?

assistant: close to $2 trillion
user: What was the private issuance of CDOs in 2009?

assistant: less than $150 billion
user: Almost all of the asset-backed issuance in 2009 was supported by what Federal Reserve program?

assistant: TALF
user: Following the collapse in the housing bubble, what happened to a number of commodity prices?

assistant: Rapid increases
user: How much did the price of oil increase from early 2007 to 2008?

assistant: nearly tripled from $50 to $147
user: What did the price of oil began doing when the financial crisis began to take hold in late 2008?

assistant: plunging
user: What is one of the reasons experts believe contributed to the volatilaty in oil prices in 2008? 

assistant: monetary policy
user: Consumers tend to have less money to spend on other goods, when the price of which commodity is higher?

assistant: gasoline
user: Who was the former director of the CFTC that testified before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008?

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

assistant: IntercontinentalExchange
user: Who founded the Atlanta-based Intercontinental Exchange?

assistant: Goldman Sachs, Morgan Stanley and BP
user: Who purchased the International Petroleum Exchange in 2001?

assistant: IntercontinentalExchange (ICE)
user: 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?

assistant: Ailsa McKay
user: Feminist economists Ailsa McKay and Margunn Bjornhold believe that the financial crisis and response reveal a crisis of ideas in this?

assistant: mainstream economics
user: According to feminist economists McKay and Bjornholt, would type economics should be included in a reshaping?

assistant: feminist economics
user: What do economists McKay and Bjornholt want to occur in the economy, economic theory, and economics profession?

assistant: a reshaping
user: Who was the current Governor of the Reserve Bank of India that predicted the crisis in 2005?

assistant: Raghuram Rajan
user: When did Raghuram Rajan become chief economist the the International Monetary Fund?

assistant: 2005
user: In 2005, where did Rajan deliver a controversial paper that was critical of the financial paper?

assistant: at a celebration honouring Alan Greenspan
user: What was the name of Raghuram Rajan's controversial paper delivered in 2005?

assistant: "Has Financial Development Made the World Riskier?"
user: What are risks called that generate severe adverse consequences with small probability but generous compensation the rest of the time?

assistant: tail risks
user: Who was one of the only mainstream economist to predict the financial crisis?

assistant: Raghuram Rajan
user: What did Raghuram Rajan speak of?

assistant: Great Moderation
user: Who credit 12 heterodox economists with predicting the crisis in his research credits?

assistant: Dirk Bezemer
user: Which former Fed Chair confessed in Congressional testimony to being forced to return to lax monetary supply?

assistant: Alan Greenspan
user: Which magazine ran a cover story claiming that most economists failed to the the financial crisis?

assistant: BusinessWeek
user: The financial crisis of 2007 was the worst economic crisis since which crisis that occurred in the 1930s?

assistant: Great Depression
user: Which school at University of Pennsylvania examined in their online business journal why economists failed to predict the crisis?

assistant: The Wharton School
user: Which economist did the New York Times state warned of a crisis as early as September 2006?

assistant: Nouriel Roubini
user: What was economist Roubini called by the New York Times for predicting a collapse of the housing market?

assistant: "Dr. Doom"
user: Who wrote the 2007 book The Black Swan?

assistant: Nassim Nicholas Taleb
user: What journalist from the New York Times stated his believe in Nassim Nicholas Taleb?

assistant: David Brooks
user: What did Nassim Nicholas Taleb warn about for years prior to the financial crisis of 2007?

assistant: the breakdown of the banking system
user: What did Nassim Nicholas Taleb make a fortune on by making a big financial bet?

assistant: banking stocks
user: Who is the market strategist that believes distinctions exist between the current crisis and the Great Depression?

assistant: Phil Dow
user: How much did the Dow Jones average fall during a period of 17 months?

assistant: 50%
user: What was the percentage the Dow Jones fell in the Great Depression?

assistant: 54.7%
user: Who was the chief financial correspondent of The New York Times in March 2009?

assistant: Floyd Norris
user: Which medium sized British bank was the first victim of the financial crisis?

assistant: Northern Rock
user: When did Northern Rock investors panic and a bank run begin?

assistant: September 2007
user: Which bank early problems in 2007 were an indicator of the troubles that would soon befall other banks and financial institutions?

assistant: Northern Rock
user: IndyMac often made loans without verifying what?

assistant: the borrower’s income
user: What was questionable on IndyMac's underlying collateral?

assistant: Appraisals
user: IndyMac gave loans to borrower's with what type credit histories?

assistant: poor
user: IndyMac offered this type of questionable loans to borrowers?

assistant: risky
user: IndyMac resisted efforts by regulators to tighten this criteria of their loans?

assistant: issuing criteria
user: How many of the poorest families did not have any wealth decline during the financial crisis?

assistant: half
user: In a Federal Reserve survey of 4,000 households, what percent reported wealth decline between 2007 and 2009?

assistant: 63
user: How many of the richest families had a decrease in total wealth between 2007 and 2009?

assistant: 77
user: How many families at the bottom of the pyramid had a decrease in total wealth between 2007 and 2009?

assistant: 50
user: Which families experienced the least decline in wealth between 2007 and 2009?

assistant: poorest families
user: On November 3, 2008, who predicted extremely weak GDP growth for the Eurozone in 2009?

assistant: European Commission at Brussels
user: How much did the European Commission estimate the GDP growth for Eurozone countries would be in 2009?

assistant: 0.1%
user: How much did the European Commission estimate the GDP growth for the UK would be in 2009?

assistant: −1.0%
user: On November 6, in Washington, D.C., who predicted a worldwide recession for 2009?

assistant: the IMF
user: On November 5, 2008, the Bank of England reduced their interest rate from 4.5% to what?

assistant: 3%
user: What have central banks around the world done to avoid the risk of a deflationary spiral?

assistant: expand money supplies
user: What have governments done to offset the reduction in private sector demand?

assistant: enacted large fiscal stimulus packages
user: What is the U.S. Federal Reserve's traditional role during a crisis?

assistant: lender-of-last-resort
user: What did the U.S. Federal Reserve do to increase access to liquidity?

assistant: expanded liquidity facilities
user: What type decline does lower wages and higher unemployment lead to?

assistant: self-reinforcing decline
user: How much government debt and troubled private assets did central banks purchase during the last quarter of 2008?

assistant: US$2.5 trillion
user: How much preferred stock did governments of European nations and the USA purchase in their major banks?

assistant: $1.5 trillion
user: In October 2010, who was the Nobel laureate that explained how the U.S. Federal Reserve was creating currency to combat the liquidity trap?

assistant: Joseph Stiglitz
user: What did the banks chose to do with the money created by the Federal Reserve instead of financing more domestic loans and refinancing mortgages?

assistant: investing internationally in emerging markets
user: What was introduced by President Barack Obama in June 2009?

assistant: a series of regulatory proposals
user: What was one of the items important to consumers that was addressed by the new regulatory proposals introduced in June 2009?

assistant: consumer protection
user: Regulations were proposed by Obama in January 2010 to limit the ability of banks to engage in which type trading?

assistant: proprietary
user: Who were proposed new regulations called "The Volcker Rule" named after?

assistant: Paul Volcker
user: Who publicly argued for changes limiting the ability of banks to engage in proprietary trading?

assistant: Paul Volcker
user: When did the U.S. Senate first pass a financial reform bill?

assistant: May 2010
user: When did the U.S. House first pass a financial reform bill?

assistant: December 2009
user: What rule against proprietary trading was not part of legislation passed by either the Senate or House?

assistant: Volcker Rule
user: Which bill gave regulators the discretion to prohibit proprietary trades?

assistant: Senate
user: What action in 2007 by national governments prevented the collapse of large financial institutions?

assistant: bailout of banks
user: How much estimated consumer wealth was lost as a result of the financial crisis of 2007?

assistant: trillions of U.S. dollars
user: What is the date the active phase of the financial crisis began as a liquidity crisis?

assistant: August 9, 2007
user: What year did the global recession that followed the financial crisis of 2007 end?

assistant: 2012
user: What was the name of the company that terminated withdrawals from three hedge funds in 2007 citing a liquidity crisis?

assistant: BNP Paribas
user: What year did Congress pass the American Recover and Reinvestment Act?

assistant: 2009
user: Overvaluation of bundled subprime mortgages was based on the theory that housing prices would continue to do this?

assistant: escalate
user: One of the causes of the financial crisis was easier access to loans by this type borrower?

assistant: subprime
user: In 2007, banks and insurance companies did not have adequate holdings of which type to back their financial commitments?

assistant: capital
user: What is the name of the U.S. Senate report giving their conclusions for the cause of the crisis?

assistant: Levin–Coburn Report
user: Which act was repealed in 1999 effectively removing the separation between investment and deposit banks?

assistant: Glass-Steagall Act
user: What is the name of the commission who concluded the financial crisis was avoidable?

assistant: Financial Crisis Inquiry Commission
user: What agency failed to accurately price risk involved in mortgage-related financial products?

assistant: credit rating agencies
user: What practices should have been adjusted by governments to address 21st-century financial markets?

assistant: regulatory
user: What are MBS as related to the housing and credit booms?

assistant: mortgage-backed securities
user: What are CDO as related to the housing and credit booms?

assistant: collateralized debt obligations
user: When housing prices declined, who reported significant losses from being heavily invested in subprime MBS?

assistant: major global financial institutions
user: Who could invest in the U.S. housing market through MBS and CDO?

assistant: institutions and investors around the world
user: How much are total losses estimated to be from falling home prices?

assistant: trillions of U.S. dollars
user: What is the financial incentive when a home is worth less than the mortgage loan?

assistant: foreclosure
user: What other financial instruments had significant defaults and losses as a result of the crisis expanding from housing to other parts of the economy?

assistant: other loan types
user: What continues to drain consumer wealth and erode the strength of banks?

assistant: foreclosure epidemic
user: What institutions are not subject to the same regulations as commercial banks?

assistant: investment banks and hedge funds
user: What process caused the financial system to both expand and become fragile?

assistant: financialization
user: What policy has U.S. Government emphasized from the 1970's onward?

assistant: deregulation
user: Since the 1970's, what has emphasized deregulation to encourage business, but resulted in less oversight and less disclosure?

assistant: U.S. Government policy
user: Some regulated banks did not have sufficient financial cushions in place to absorb what losses as a result of the financial crisis of 2007?

assistant: MBS
user: What was a consequence of the large loan defaults and MBS losses in 2007?

assistant: slowing economic activity
user: Who provided funds to encourage lending and restore faith in commercial banks in the aftermath of the financial crisis of 2007?

assistant: central banks
user: Who bailed out key financial institutions and implemented economic stimulus programs as an answer to the financial crisis of 2007?

assistant: Governments
user: What impacted the ability of financial institutions to lend in the financial crisis of 2007?

assistant: large loan defaults or MBS losses
user: When did the U.S. Financial Crisis Inquiry Commission report its findings?

assistant: January 2011
user: What was one of  the conclusions of the U.S. Financial Crisis Inquiry Commission regarding the financial crisis of 2007?

assistant: the crisis was avoidable and was caused by: widespread failures in financial regulation
user: What agency failed to stem the tide of toxic mortgages contributing to the financial crisis of 2007?

assistant: Federal Reserve
user: Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system?

assistant: key policy makers
user: Which business sector contributed to the financial crisis by acting recklessly and taking on too much risk?

assistant: financial firms
user: What caused mortgage lenders to relax underwriting standards and approve riskier mortgages?

assistant: tough competition
user: What years had the most intense competition between securitizers and the lowest market share for GSEs?

assistant: 2004–2007
user: Who policed mortgage originators and maintained relatively high standards prior to 2003?

assistant: government-sponsored enterprises (GSEs)
user: How many Democratic appointees wrote the majority report of the Financial Crisis Inquiry Commission?

assistant: six
user: Who claimed that the GSE never purchased subprime loans - a claim that is widely disputed?

assistant: Paul Krugman
user: Several reports written by various agencies  concluded that which policy was not the primary cause of the financial crisis?

assistant: government affordable housing policy
user: According to reports, which loans performed better than some loans securitized by private investment banks?

assistant: GSE loans
user: How many Republican appointees wrote the minority report of the Financial Crisis Inquiry Commission?

assistant: 4
user: How many estimated substandard loans did Fannie and Freddie have in 2008? 

assistant: 13 million
user: What was the value of the estimated 13 million substandard loans held by Fannie and Freddie in 2008?

assistant: over $2 trillion
user: Which government-sponsored entities had massive risky loan purchases?

assistant: Fannie Mae and Freddie Mac
user: Peter J. Wallison believes that the one of the roots of the financial crisis can be traced to affordable housing policies by which agency in the 1990s?

assistant: HUD
user: How many ex-executives of Fannie and Freddie were named in the SEC's December 2011 securities fraud case?

assistant: 6
user: Who uncovered accounting discrepancies in Fannie Mae and Freddie Mac?

assistant: Office of Federal Housing Enterprise Oversight (OFHEO)
user: Which administration called for investigation into the soundness of GSEs in the early and mid-2000s?

assistant: Bush administration
user: On what date did the House Financial Services Committee hold a hearing to assess safety and soundness issues regarding Fannie Mae and Freddie Mac?

assistant: September 10, 2003
user: What was the result of the House Financial Services Committee on September 10, 2003 regarding Fannie Mae and Freddie Mac?

assistant: The hearings never resulted in new legislation or formal investigation
user: Who rebuked OFHEO in 2003 for their attempt at regulation of Fannie Mae and Freddie Mac?

assistant: House Financial Services Committee
user: What was the value of mortgage lending made by Community Reinvestment Act covered lenders to low and mid level income borrowers and neighborhoods from 1993-1998?

assistant: $467 billion
user: What percent of mortgage lending was made by Community Reinvestment Act covered lenders from 1993 to 1998?

assistant: 10%
user: What percent of sub-prime lending occurred at CRA-covered institutions in the run-up to the financial crisis?

assistant: 25%
user: What percent of sub-prime loans had some connection with CRA in the run-up to the financial crisis?

assistant: 25%
user: When did CRA make rule changes to relax underwriting standards?

assistant: 1995
user: How much were CRA loan commitments between 1994 and 2007?

assistant: $4.5 trillion
user: What was the Federal Reserve's assumption regarding what makes a loan subprime?

assistant: high-interest-rate loans (3 percentage points over average)
user: When were ultra-low interest rates initiated by the Federal Reserve?

assistant: after the terrorist attack on September 11, 2001
user: What financial innovation enabled investment banks and hedge funds to make large wagers?

assistant: credit default swaps, collateralized debt obligations and synthetic CDOs.
user: Credit default swaps, collateralized debt obligations and CDOS are all types of what?

assistant: derivatives
user: Which magazine had an article where Michael Lewis spoke with a trader about bad loans?

assistant: Portfolio Magazine
user: What financial innovation allows investment banks and hedge banks to make large wagers?

assistant: derivatives
user: What are some names of derivatives?

assistant: credit default swaps, collateralized debt obligations and synthetic CDOs
user: Peter J. Wallison believes that the huge number of these loans led to the financial crisis?

assistant: substandard
user: What type downpayments do substandard loans generally have?

assistant: low or no downpayments
user: According to Peter J. Wallison, why did the U.S. residential housing bubble led to financial crisis?

assistant: it was supported by a huge number of substandard loans
user: Other countries had large residential housing bubbles that deflated during what years?

assistant: 1997–2007
user: Peter J. Wallison's conclusions regarding the financial crisis are not in agreement with this economist's views?

assistant: Krugman
user: How many Miles East of Puerto Rico is St. Barts?

assistant: 160
user: What lies between St. Barts and Saint Martin island?

assistant: the Saint-Barthélemy Channel
user: St. Barts is one of the what group of islands?

assistant: the Renaissance
user: What is Île Frégate in relation to St Barts?

assistant: satellite islets
user: What are the people of St. Barts called?

assistant: Saint-Barthélemoise
user: About how many people speak Patois French in St. Barts?

assistant: 500–700
user: Of what nation do the people of St. Barts claim citizenship?

assistant: French
user: How does the determination between Patois and Creole French usually determined?

assistant: racially
user: What island besides St. Barts was granted COM status by France in 2007?

assistant: Saint Martin
user: How many years does a president have in office in St. Barts?

assistant: five
user: When was the last election held for the executive council positions?

assistant: in March 2012
user: When did the COM status for St. Barts take effect?

assistant: 15 July 2007
user: When was the last senate election in St. Barts?

assistant: September 2014
user: What organization did St. Barts become a part of in 2012?

assistant: the European Union
user: What year was the first senate election held for the St. Barts?

assistant: 2008
user: How many policemen does the French government pay for on St. Barts?

assistant: thirteen
user: What type of activity did early settlers use to get food that didn't involve farming?

assistant: fishing
user: What is the name of the main commercial port in St. Barts?

assistant: Gustavia
user: St. Barts is considered a playground for whom?

assistant: the rich and famous
user: How many tourists visit St. Barts each year?

assistant: 200,000
user: What is the highest propoerty value recorded in St. Barts?

assistant: €61,200,000
user: What besides investment is responsible for the high standard of living on the island?

assistant: wealth generated by wealthy tourists
user: Besides boats how does St. Barts import most of its food?

assistant: by airplane
user: How many rooms does the largest hotel in St. Barts have?

assistant: 58
user: Which country besides Brazil does St. Barts import its labor force from?

assistant: Portugal
user: About how many villas are available for rent in St. Barts?

assistant: 400
user: What types of plants are usually found at St. Barts?

assistant: succulent
user: Which half of the island is usually greener due to more rainfall?

assistant: The eastern part
user: A 1994 found how many different species of plants native to the island?

assistant: several hundred
user: What besides palm trees is a common plant to see in St. Barts?

assistant: Sea grapes
user: Where was the coconut palm brought to St. Barts from?

assistant: the Pacific islands
user: What plant was brought to St. Barts from the Mediterranean?

assistant: aloe or aloe vera
user: What is the name of the night blooming flower on St. Barts?

assistant: cereus