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SQuAD
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller than they actually proved to be. George Soros commented that "The super-boom got out of hand when the new products became so complicated that the authorities could no longer calculate the risks and started relying on the risk management methods of the banks themselves. Similarly, the rating agencies relied on the information provided by the originators of synthetic products. It was a shocking abdication of responsibility."
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bb62117118ce4c2eb7010eee5aa7789d
Who commented that the super-boom got out of hand when products became so complicated that risk could not be accurately calculated?
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{ "text": [ "George Soros" ], "char_spans": [ { "start": [ 354 ], "end": [ 365 ] } ], "token_spans": [ { "start": [ 62 ], "end": [ 63 ] } ] }
[ "George Soros" ]
SQuAD
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller than they actually proved to be. George Soros commented that "The super-boom got out of hand when the new products became so complicated that the authorities could no longer calculate the risks and started relying on the risk management methods of the banks themselves. Similarly, the rating agencies relied on the information provided by the originators of synthetic products. It was a shocking abdication of responsibility."
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6dd88d884d97478282dc76c8fb2c9a35
What happened to financial assets that made them harder to value?
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{ "text": [ "more complex" ], "char_spans": [ { "start": [ 36 ], "end": [ 47 ] } ], "token_spans": [ { "start": [ 6 ], "end": [ 7 ] } ] }
[ "more complex" ]
SQuAD
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller than they actually proved to be. George Soros commented that "The super-boom got out of hand when the new products became so complicated that the authorities could no longer calculate the risks and started relying on the risk management methods of the banks themselves. Similarly, the rating agencies relied on the information provided by the originators of synthetic products. It was a shocking abdication of responsibility."
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8a6f9d690d474c42b52a776ea09cde0d
Who did rating agencies rely on for information to rate financial innovation products?
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{ "text": [ "the originators of synthetic products" ], "char_spans": [ { "start": [ 660 ], "end": [ 696 ] } ], "token_spans": [ { "start": [ 115 ], "end": [ 119 ] } ] }
[ "the originators of synthetic products" ]
SQuAD
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller than they actually proved to be. George Soros commented that "The super-boom got out of hand when the new products became so complicated that the authorities could no longer calculate the risks and started relying on the risk management methods of the banks themselves. Similarly, the rating agencies relied on the information provided by the originators of synthetic products. It was a shocking abdication of responsibility."
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2d387aee417b4f4da004e0a9d09ea278
When authorities could no longer calculate the risks of complex financial innovation products, who did they rely on for information?
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[ "the banks" ]
SQuAD
As financial assets became more and more complex, and harder and harder to value, investors were reassured by the fact that both the international bond rating agencies and bank regulators, who came to rely on them, accepted as valid some complex mathematical models which theoretically showed the risks were much smaller than they actually proved to be. George Soros commented that "The super-boom got out of hand when the new products became so complicated that the authorities could no longer calculate the risks and started relying on the risk management methods of the banks themselves. Similarly, the rating agencies relied on the information provided by the originators of synthetic products. It was a shocking abdication of responsibility."
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5e78be4adf614679ac43a3011a772246
Who reassured investors by showing the risk of complex financial innovation products was actually less than they proved to be?
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{ "text": [ "international bond rating agencies" ], "char_spans": [ { "start": [ 133 ], "end": [ 166 ] } ], "token_spans": [ { "start": [ 25 ], "end": [ 28 ] } ] }
[ "international bond rating agencies" ]
SQuAD
On 7 February 2007, the French Parliament passed a bill granting COM status to both St. Barthélemy and (separately) to the neighbouring Saint Martin. The new status took effect on 15 July 2007, when the first territorial council was elected, according to the law. The island has a president (elected every five years), a unicameral Territorial Council of nineteen members who are elected by popular vote and serve for five-year terms, and an executive council of seven members. Elections to these councils were first held on 1 July 2007 with the last election in March 2012.
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c0cea9cbe3394b5fad432a7238190b40
What island besides St. Barts was granted COM status by France in 2007?
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{ "text": [ "Saint Martin" ], "char_spans": [ { "start": [ 136 ], "end": [ 147 ] } ], "token_spans": [ { "start": [ 25 ], "end": [ 26 ] } ] }
[ "Saint Martin" ]
SQuAD
On 7 February 2007, the French Parliament passed a bill granting COM status to both St. Barthélemy and (separately) to the neighbouring Saint Martin. The new status took effect on 15 July 2007, when the first territorial council was elected, according to the law. The island has a president (elected every five years), a unicameral Territorial Council of nineteen members who are elected by popular vote and serve for five-year terms, and an executive council of seven members. Elections to these councils were first held on 1 July 2007 with the last election in March 2012.
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3a391b36957f4ab691cafd5d3f580f4e
How many years does a president have in office in St. Barts?
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{ "text": [ "five" ], "char_spans": [ { "start": [ 306 ], "end": [ 309 ] } ], "token_spans": [ { "start": [ 59 ], "end": [ 59 ] } ] }
[ "five" ]
SQuAD
On 7 February 2007, the French Parliament passed a bill granting COM status to both St. Barthélemy and (separately) to the neighbouring Saint Martin. The new status took effect on 15 July 2007, when the first territorial council was elected, according to the law. The island has a president (elected every five years), a unicameral Territorial Council of nineteen members who are elected by popular vote and serve for five-year terms, and an executive council of seven members. Elections to these councils were first held on 1 July 2007 with the last election in March 2012.
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56ca4ac1f87246c4bd5662777b09a377
When was the last election held for the executive council positions?
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[ "in March 2012" ]
SQuAD
On 7 February 2007, the French Parliament passed a bill granting COM status to both St. Barthélemy and (separately) to the neighbouring Saint Martin. The new status took effect on 15 July 2007, when the first territorial council was elected, according to the law. The island has a president (elected every five years), a unicameral Territorial Council of nineteen members who are elected by popular vote and serve for five-year terms, and an executive council of seven members. Elections to these councils were first held on 1 July 2007 with the last election in March 2012.
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abf6cbd2688e4b6aa4871c3e0889cda4
When did the COM status for St. Barts take effect?
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[ "15 July 2007" ]
SQuAD
On 7 February 2007, the French Parliament passed a bill granting COM status to both St. Barthélemy and (separately) to the neighbouring Saint Martin. The new status took effect on 15 July 2007, when the first territorial council was elected, according to the law. The island has a president (elected every five years), a unicameral Territorial Council of nineteen members who are elected by popular vote and serve for five-year terms, and an executive council of seven members. Elections to these councils were first held on 1 July 2007 with the last election in March 2012.
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17397c84279a4d50a26320798cbdf225
How many people are on the Territorial Council?
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[ "nineteen" ]
SQuAD
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as playing a key role in speculative run-up of oil futures prices traded off the regulated futures exchanges in London and New York. However, the IntercontinentalExchange (ICE) had been regulated by both European and U.S. authorities since its purchase of the International Petroleum Exchange in 2001. Mr Greenberger was later corrected on this matter.
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b086dd7859ff4335928c43c56a89d72c
Who was the former director of the CFTC that testified before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008?
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[ "Michael Greenberger" ]
SQuAD
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as playing a key role in speculative run-up of oil futures prices traded off the regulated futures exchanges in London and New York. However, the IntercontinentalExchange (ICE) had been regulated by both European and U.S. authorities since its purchase of the International Petroleum Exchange in 2001. Mr Greenberger was later corrected on this matter.
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260b6f6a409a410d9c25405774065f87
Who did Michael Greenberger erronesously name as a key player in speculative run-up of oil futures?
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{ "text": [ "IntercontinentalExchange" ], "char_spans": [ { "start": [ 244 ], "end": [ 267 ] } ], "token_spans": [ { "start": [ 42 ], "end": [ 42 ] } ] }
[ "IntercontinentalExchange" ]
SQuAD
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as playing a key role in speculative run-up of oil futures prices traded off the regulated futures exchanges in London and New York. However, the IntercontinentalExchange (ICE) had been regulated by both European and U.S. authorities since its purchase of the International Petroleum Exchange in 2001. Mr Greenberger was later corrected on this matter.
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3327d72c3ef14439a80c8dea983c2519
Who founded the Atlanta-based Intercontinental Exchange?
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{ "text": [ "Goldman Sachs, Morgan Stanley and BP" ], "char_spans": [ { "start": [ 281 ], "end": [ 316 ] } ], "token_spans": [ { "start": [ 46 ], "end": [ 52 ] } ] }
[ "Goldman Sachs, Morgan Stanley and BP" ]
SQuAD
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as playing a key role in speculative run-up of oil futures prices traded off the regulated futures exchanges in London and New York. However, the IntercontinentalExchange (ICE) had been regulated by both European and U.S. authorities since its purchase of the International Petroleum Exchange in 2001. Mr Greenberger was later corrected on this matter.
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699407192f034e54918cd8d5be8c3e17
Who purchased the International Petroleum Exchange in 2001?
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{ "text": [ "IntercontinentalExchange (ICE)" ], "char_spans": [ { "start": [ 464 ], "end": [ 493 ] } ], "token_spans": [ { "start": [ 82 ], "end": [ 85 ] } ] }
[ "IntercontinentalExchange (ICE)" ]
SQuAD
In testimony before the Senate Committee on Commerce, Science, and Transportation on June 3, 2008, former director of the CFTC Division of Trading & Markets (responsible for enforcement) Michael Greenberger specifically named the Atlanta-based IntercontinentalExchange, founded by Goldman Sachs, Morgan Stanley and BP as playing a key role in speculative run-up of oil futures prices traded off the regulated futures exchanges in London and New York. However, the IntercontinentalExchange (ICE) had been regulated by both European and U.S. authorities since its purchase of the International Petroleum Exchange in 2001. Mr Greenberger was later corrected on this matter.
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196cb79a958d493ab31e3e8ac1294562
Where are regulated future exchanges located?
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{ "text": [ "London and New York" ], "char_spans": [ { "start": [ 430 ], "end": [ 448 ] } ], "token_spans": [ { "start": [ 74 ], "end": [ 77 ] } ] }
[ "London and New York" ]
SQuAD
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse. In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies, which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
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ab429b14a2b041358b5362855fe43ea7
Which products created more complexity in the financial markets?
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{ "text": [ "innovative financial products" ], "char_spans": [ { "start": [ 13 ], "end": [ 41 ] } ], "token_spans": [ { "start": [ 3 ], "end": [ 5 ] } ] }
[ "innovative financial products" ]
SQuAD
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse. In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies, which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
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3040df149e644337bae4018944b0d271
What effect did the introduction of innovative financial products have on a single mortgage?
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[ "multiplied the number of actors connected" ]
SQuAD
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse. In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies, which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
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e21a1227dc9d4f39be4ae36a4d509d12
What did institutions rely more on as increasing distance from underlying assets occurred?
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[ "indirect information" ]
SQuAD
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse. In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies, which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
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5d3a6a7df59541b794e06d13bda3b1a6
What is a type of indirect information that financial institutions and investors used to judge the risk?
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[ "computer models of rating agencies" ]
SQuAD
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse. In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies, which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
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8e95e53996de4e65a6b3ac09db653922
In what year did a group of computer scientists build a model for ratings produced by rating agencies that turned out to be accurate for what happened in 2006-2008?
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[ "2005" ]
SQuAD
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshaping should include new advances within feminist economics and ecological economics that take as their starting point the socially responsible, sensible and accountable subject in creating an economy and economic theories that fully acknowledge care for each other as well as the planet.
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25a80abf0f2e44aabc8c472dd14699bb
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?
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{ "text": [ "Ailsa McKay" ], "char_spans": [ { "start": [ 20 ], "end": [ 30 ] } ], "token_spans": [ { "start": [ 2 ], "end": [ 3 ] } ] }
[ "Ailsa McKay" ]
SQuAD
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshaping should include new advances within feminist economics and ecological economics that take as their starting point the socially responsible, sensible and accountable subject in creating an economy and economic theories that fully acknowledge care for each other as well as the planet.
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c8221c3dea604c25b062efa47a0aeeff
Feminist economists Ailsa McKay and Margunn Bjornhold believe that the financial crisis and response reveal a crisis of ideas in this?
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{ "text": [ "mainstream economics" ], "char_spans": [ { "start": [ 139 ], "end": [ 158 ] } ], "token_spans": [ { "start": [ 23 ], "end": [ 24 ] } ] }
[ "mainstream economics" ]
SQuAD
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshaping should include new advances within feminist economics and ecological economics that take as their starting point the socially responsible, sensible and accountable subject in creating an economy and economic theories that fully acknowledge care for each other as well as the planet.
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c09c67a2a28848a0aef4c891599438b2
According to feminist economists McKay and Bjornholt, would type economics should be included in a reshaping?
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{ "text": [ "feminist economics" ], "char_spans": [ { "start": [ 357 ], "end": [ 374 ] } ], "token_spans": [ { "start": [ 59 ], "end": [ 60 ] } ] }
[ "feminist economics" ]
SQuAD
Feminist economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. They argue that such a reshaping should include new advances within feminist economics and ecological economics that take as their starting point the socially responsible, sensible and accountable subject in creating an economy and economic theories that fully acknowledge care for each other as well as the planet.
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What do economists McKay and Bjornholt want to occur in the economy, economic theory, and economics profession?
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[ "a reshaping" ]
SQuAD
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development Institute, reductions in growth can be attributed to falls in trade, commodity prices, investment and remittances sent from migrant workers (which reached a record $251 billion in 2007, but have fallen in many countries since). This has stark implications and has led to a dramatic rise in the number of households living below the poverty line, be it 300,000 in Bangladesh or 230,000 in Ghana. Especially states with a fragile political system have to fear that investors from Western states withdraw their money because of the crisis. Bruno Wenn of the German DEG recommends to provide a sound economic policymaking and good governance to attract new investors
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What is the growth forecast for Cambodia in 2009?
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{ "text": [ "close to zero" ], "char_spans": [ { "start": [ 174 ], "end": [ 186 ] } ], "token_spans": [ { "start": [ 31 ], "end": [ 33 ] } ] }
[ "close to zero" ]
SQuAD
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development Institute, reductions in growth can be attributed to falls in trade, commodity prices, investment and remittances sent from migrant workers (which reached a record $251 billion in 2007, but have fallen in many countries since). This has stark implications and has led to a dramatic rise in the number of households living below the poverty line, be it 300,000 in Bangladesh or 230,000 in Ghana. Especially states with a fragile political system have to fear that investors from Western states withdraw their money because of the crisis. Bruno Wenn of the German DEG recommends to provide a sound economic policymaking and good governance to attract new investors
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How much were remittances sent from migrant workers in 2007?
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[ "$251 billion" ]
SQuAD
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development Institute, reductions in growth can be attributed to falls in trade, commodity prices, investment and remittances sent from migrant workers (which reached a record $251 billion in 2007, but have fallen in many countries since). This has stark implications and has led to a dramatic rise in the number of households living below the poverty line, be it 300,000 in Bangladesh or 230,000 in Ghana. Especially states with a fragile political system have to fear that investors from Western states withdraw their money because of the crisis. Bruno Wenn of the German DEG recommends to provide a sound economic policymaking and good governance to attract new investors
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How many people live below the poverty line in Bangladesh?
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{ "text": [ "300,000" ], "char_spans": [ { "start": [ 673 ], "end": [ 679 ] } ], "token_spans": [ { "start": [ 130 ], "end": [ 130 ] } ] }
[ "300,000" ]
SQuAD
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development Institute, reductions in growth can be attributed to falls in trade, commodity prices, investment and remittances sent from migrant workers (which reached a record $251 billion in 2007, but have fallen in many countries since). This has stark implications and has led to a dramatic rise in the number of households living below the poverty line, be it 300,000 in Bangladesh or 230,000 in Ghana. Especially states with a fragile political system have to fear that investors from Western states withdraw their money because of the crisis. Bruno Wenn of the German DEG recommends to provide a sound economic policymaking and good governance to attract new investors
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What does Bruno Wenn of the German DEG recommend to attract new investors?
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{ "text": [ "sound economic policymaking and good governance" ], "char_spans": [ { "start": [ 911 ], "end": [ 957 ] } ], "token_spans": [ { "start": [ 171 ], "end": [ 176 ] } ] }
[ "sound economic policymaking and good governance" ]
SQuAD
Some developing countries that had seen strong economic growth saw significant slowdowns. For example, growth forecasts in Cambodia show a fall from more than 10% in 2007 to close to zero in 2009, and Kenya may achieve only 3–4% growth in 2009, down from 7% in 2007. According to the research by the Overseas Development Institute, reductions in growth can be attributed to falls in trade, commodity prices, investment and remittances sent from migrant workers (which reached a record $251 billion in 2007, but have fallen in many countries since). This has stark implications and has led to a dramatic rise in the number of households living below the poverty line, be it 300,000 in Bangladesh or 230,000 in Ghana. Especially states with a fragile political system have to fear that investors from Western states withdraw their money because of the crisis. Bruno Wenn of the German DEG recommends to provide a sound economic policymaking and good governance to attract new investors
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According to Overseas Development Institute, what is one reason for the reduction in growth in developing countries?
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{ "text": [ "falls in trade" ], "char_spans": [ { "start": [ 374 ], "end": [ 387 ] } ], "token_spans": [ { "start": [ 72 ], "end": [ 74 ] } ] }
[ "falls in trade" ]
SQuAD
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed the problem as part of "robustness and fragility". He also took action against the establishment view by making a big financial bet on banking stocks and making a fortune from the crisis ("They didn't listen, so I took their money"). According to David Brooks from the New York Times, "Taleb not only has an explanation for what’s happening, he saw it coming."
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7bff06e8c2284e13be4c503e41f51bba
Who wrote the 2007 book The Black Swan?
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{ "text": [ "Nassim Nicholas Taleb" ], "char_spans": [ { "start": [ 41 ], "end": [ 61 ] } ], "token_spans": [ { "start": [ 6 ], "end": [ 8 ] } ] }
[ "Nassim Nicholas Taleb" ]
SQuAD
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed the problem as part of "robustness and fragility". He also took action against the establishment view by making a big financial bet on banking stocks and making a fortune from the crisis ("They didn't listen, so I took their money"). According to David Brooks from the New York Times, "Taleb not only has an explanation for what’s happening, he saw it coming."
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What journalist from the New York Times stated his believe in Nassim Nicholas Taleb?
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{ "text": [ "David Brooks" ], "char_spans": [ { "start": [ 568 ], "end": [ 579 ] } ], "token_spans": [ { "start": [ 110 ], "end": [ 111 ] } ] }
[ "David Brooks" ]
SQuAD
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed the problem as part of "robustness and fragility". He also took action against the establishment view by making a big financial bet on banking stocks and making a fortune from the crisis ("They didn't listen, so I took their money"). According to David Brooks from the New York Times, "Taleb not only has an explanation for what’s happening, he saw it coming."
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1506ca6b814d49bc88a58e2bc67df8ac
What did Nassim Nicholas Taleb warn about for years prior to the financial crisis of 2007?
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{ "text": [ "the breakdown of the banking system" ], "char_spans": [ { "start": [ 132 ], "end": [ 166 ] } ], "token_spans": [ { "start": [ 23 ], "end": [ 28 ] } ] }
[ "the breakdown of the banking system" ]
SQuAD
Stock trader and financial risk engineer Nassim Nicholas Taleb, author of the 2007 book The Black Swan, spent years warning against the breakdown of the banking system in particular and the economy in general owing to their use of bad risk models and reliance on forecasting, and their reliance on bad models, and framed the problem as part of "robustness and fragility". He also took action against the establishment view by making a big financial bet on banking stocks and making a fortune from the crisis ("They didn't listen, so I took their money"). According to David Brooks from the New York Times, "Taleb not only has an explanation for what’s happening, he saw it coming."
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dda609fc436842d38027efd66f9efae5
What did Nassim Nicholas Taleb make a fortune on by making a big financial bet?
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[ "banking stocks" ]
SQuAD
Typical American families did not fare as well, nor did those "wealthy-but-not wealthiest" families just beneath the pyramid's top. On the other hand, half of the poorest families did not have wealth declines at all during the crisis. The Federal Reserve surveyed 4,000 households between 2007 and 2009, and found that the total wealth of 63 percent of all Americans declined in that period. 77 percent of the richest families had a decrease in total wealth, while only 50 percent of those on the bottom of the pyramid suffered a decrease.
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b29ce8180ffb4d7bb28f38b67808a1a4
How many of the poorest families did not have any wealth decline during the financial crisis?
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{ "text": [ "half" ], "char_spans": [ { "start": [ 151 ], "end": [ 154 ] } ], "token_spans": [ { "start": [ 33 ], "end": [ 33 ] } ] }
[ "half" ]
SQuAD
Typical American families did not fare as well, nor did those "wealthy-but-not wealthiest" families just beneath the pyramid's top. On the other hand, half of the poorest families did not have wealth declines at all during the crisis. The Federal Reserve surveyed 4,000 households between 2007 and 2009, and found that the total wealth of 63 percent of all Americans declined in that period. 77 percent of the richest families had a decrease in total wealth, while only 50 percent of those on the bottom of the pyramid suffered a decrease.
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3c873666b4fe4152af1f6e5783aa6626
In a Federal Reserve survey of 4,000 households, what percent reported wealth decline between 2007 and 2009?
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{ "text": [ "63" ], "char_spans": [ { "start": [ 339 ], "end": [ 340 ] } ], "token_spans": [ { "start": [ 67 ], "end": [ 67 ] } ] }
[ "63" ]
SQuAD
Typical American families did not fare as well, nor did those "wealthy-but-not wealthiest" families just beneath the pyramid's top. On the other hand, half of the poorest families did not have wealth declines at all during the crisis. The Federal Reserve surveyed 4,000 households between 2007 and 2009, and found that the total wealth of 63 percent of all Americans declined in that period. 77 percent of the richest families had a decrease in total wealth, while only 50 percent of those on the bottom of the pyramid suffered a decrease.
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329b389e752241f28ea0de3aa66095d8
How many of the richest families had a decrease in total wealth between 2007 and 2009?
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{ "text": [ "77" ], "char_spans": [ { "start": [ 392 ], "end": [ 393 ] } ], "token_spans": [ { "start": [ 77 ], "end": [ 77 ] } ] }
[ "77" ]
SQuAD
Typical American families did not fare as well, nor did those "wealthy-but-not wealthiest" families just beneath the pyramid's top. On the other hand, half of the poorest families did not have wealth declines at all during the crisis. The Federal Reserve surveyed 4,000 households between 2007 and 2009, and found that the total wealth of 63 percent of all Americans declined in that period. 77 percent of the richest families had a decrease in total wealth, while only 50 percent of those on the bottom of the pyramid suffered a decrease.
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5dac4de6384a4d6bbfaf8073d39a3b53
How many families at the bottom of the pyramid had a decrease in total wealth between 2007 and 2009?
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{ "text": [ "50" ], "char_spans": [ { "start": [ 470 ], "end": [ 471 ] } ], "token_spans": [ { "start": [ 92 ], "end": [ 92 ] } ] }
[ "50" ]
SQuAD
Typical American families did not fare as well, nor did those "wealthy-but-not wealthiest" families just beneath the pyramid's top. On the other hand, half of the poorest families did not have wealth declines at all during the crisis. The Federal Reserve surveyed 4,000 households between 2007 and 2009, and found that the total wealth of 63 percent of all Americans declined in that period. 77 percent of the richest families had a decrease in total wealth, while only 50 percent of those on the bottom of the pyramid suffered a decrease.
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6d042abe9d6143cd9eb0c24174183c19
Which families experienced the least decline in wealth between 2007 and 2009?
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[ "poorest families" ]
SQuAD
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; an explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels".
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05f1825472fa443297c032b30d38ae44
When did the U.S. Financial Crisis Inquiry Commission report its findings?
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[ "January 2011" ]
SQuAD
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; an explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels".
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a51b4e47fb2e43c6bf4759c53c1714cd
What was one of the conclusions of the U.S. Financial Crisis Inquiry Commission regarding the financial crisis of 2007?
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{ "text": [ "the crisis was avoidable and was caused by: widespread failures in financial regulation" ], "char_spans": [ { "start": [ 103 ], "end": [ 189 ] } ], "token_spans": [ { "start": [ 17 ], "end": [ 30 ] } ] }
[ "the crisis was avoidable and was caused by: widespread failures in financial regulation" ]
SQuAD
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; an explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels".
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a5cea5ac0f804de8b54c84cf86b88be6
What agency failed to stem the tide of toxic mortgages contributing to the financial crisis of 2007?
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{ "text": [ "Federal Reserve" ], "char_spans": [ { "start": [ 206 ], "end": [ 220 ] } ], "token_spans": [ { "start": [ 34 ], "end": [ 35 ] } ] }
[ "Federal Reserve" ]
SQuAD
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; an explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels".
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669a48cfcd394dafa92e5cae96d50f27
Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system?
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{ "text": [ "key policy makers" ], "char_spans": [ { "start": [ 539 ], "end": [ 555 ] } ], "token_spans": [ { "start": [ 90 ], "end": [ 92 ] } ] }
[ "key policy makers" ]
SQuAD
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; an explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels".
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b6f692f517f84bf1981c6c48280db602
Which business sector contributed to the financial crisis by acting recklessly and taking on too much risk?
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{ "text": [ "financial firms" ], "char_spans": [ { "start": [ 332 ], "end": [ 346 ] } ], "token_spans": [ { "start": [ 54 ], "end": [ 55 ] } ] }
[ "financial firms" ]
SQuAD
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis. Popular articles published in the mass media have led the general public to believe that the majority of economists have failed in their obligation to predict the financial crisis. For example, an article in the New York Times informs that economist Nouriel Roubini warned of such crisis as early as September 2006, and the article goes on to state that the profession of economics is bad at predicting recessions. According to The Guardian, Roubini was ridiculed for predicting a collapse of the housing market and worldwide recession, while The New York Times labelled him "Dr. Doom".
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b409c204136c4a17a6dfccc2dafafdb9
Which magazine ran a cover story claiming that most economists failed to the the financial crisis?
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{ "text": [ "BusinessWeek" ], "char_spans": [ { "start": [ 17 ], "end": [ 28 ] } ], "token_spans": [ { "start": [ 4 ], "end": [ 4 ] } ] }
[ "BusinessWeek" ]
SQuAD
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis. Popular articles published in the mass media have led the general public to believe that the majority of economists have failed in their obligation to predict the financial crisis. For example, an article in the New York Times informs that economist Nouriel Roubini warned of such crisis as early as September 2006, and the article goes on to state that the profession of economics is bad at predicting recessions. According to The Guardian, Roubini was ridiculed for predicting a collapse of the housing market and worldwide recession, while The New York Times labelled him "Dr. Doom".
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25f643be660f43e7bccbc8c0c26fb6f4
The financial crisis of 2007 was the worst economic crisis since which crisis that occurred in the 1930s?
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{ "text": [ "Great Depression" ], "char_spans": [ { "start": [ 137 ], "end": [ 152 ] } ], "token_spans": [ { "start": [ 20 ], "end": [ 21 ] } ] }
[ "Great Depression" ]
SQuAD
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis. Popular articles published in the mass media have led the general public to believe that the majority of economists have failed in their obligation to predict the financial crisis. For example, an article in the New York Times informs that economist Nouriel Roubini warned of such crisis as early as September 2006, and the article goes on to state that the profession of economics is bad at predicting recessions. According to The Guardian, Roubini was ridiculed for predicting a collapse of the housing market and worldwide recession, while The New York Times labelled him "Dr. Doom".
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1d74494bade7470c8684f3eca0addd2d
Which school at University of Pennsylvania examined in their online business journal why economists failed to predict the crisis?
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{ "text": [ "The Wharton School" ], "char_spans": [ { "start": [ 168 ], "end": [ 185 ] } ], "token_spans": [ { "start": [ 26 ], "end": [ 28 ] } ] }
[ "The Wharton School" ]
SQuAD
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis. Popular articles published in the mass media have led the general public to believe that the majority of economists have failed in their obligation to predict the financial crisis. For example, an article in the New York Times informs that economist Nouriel Roubini warned of such crisis as early as September 2006, and the article goes on to state that the profession of economics is bad at predicting recessions. According to The Guardian, Roubini was ridiculed for predicting a collapse of the housing market and worldwide recession, while The New York Times labelled him "Dr. Doom".
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a9852d0c125e485e830a57a607ad4551
Which economist did the New York Times state warned of a crisis as early as September 2006?
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{ "text": [ "Nouriel Roubini" ], "char_spans": [ { "start": [ 572 ], "end": [ 586 ] } ], "token_spans": [ { "start": [ 93 ], "end": [ 94 ] } ] }
[ "Nouriel Roubini" ]
SQuAD
A cover story in BusinessWeek magazine claims that economists mostly failed to predict the worst international economic crisis since the Great Depression of the 1930s. The Wharton School of the University of Pennsylvania's online business journal examines why economists failed to predict a major global financial crisis. Popular articles published in the mass media have led the general public to believe that the majority of economists have failed in their obligation to predict the financial crisis. For example, an article in the New York Times informs that economist Nouriel Roubini warned of such crisis as early as September 2006, and the article goes on to state that the profession of economics is bad at predicting recessions. According to The Guardian, Roubini was ridiculed for predicting a collapse of the housing market and worldwide recession, while The New York Times labelled him "Dr. Doom".
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c798311a1945411e9217d8fb895f91e5
What was economist Roubini called by the New York Times for predicting a collapse of the housing market?
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{ "text": [ "\"Dr. Doom\"" ], "char_spans": [ { "start": [ 897 ], "end": [ 906 ] } ], "token_spans": [ { "start": [ 150 ], "end": [ 153 ] } ] }
[ "\"Dr. Doom\"" ]
SQuAD
The U.S. Federal Reserve and central banks around the world have taken steps to expand money supplies to avoid the risk of a deflationary spiral, in which lower wages and higher unemployment lead to a self-reinforcing decline in global consumption. In addition, governments have enacted large fiscal stimulus packages, by borrowing and spending to offset the reduction in private sector demand caused by the crisis. The U.S. Federal Reserve's new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity.
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765fbd4da73744698efa512ad3e61925
What have central banks around the world done to avoid the risk of a deflationary spiral?
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{ "text": [ "expand money supplies" ], "char_spans": [ { "start": [ 80 ], "end": [ 100 ] } ], "token_spans": [ { "start": [ 14 ], "end": [ 16 ] } ] }
[ "expand money supplies" ]
SQuAD
The U.S. Federal Reserve and central banks around the world have taken steps to expand money supplies to avoid the risk of a deflationary spiral, in which lower wages and higher unemployment lead to a self-reinforcing decline in global consumption. In addition, governments have enacted large fiscal stimulus packages, by borrowing and spending to offset the reduction in private sector demand caused by the crisis. The U.S. Federal Reserve's new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity.
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95a7395ccdf345119b3fcbbd20d00233
What have governments done to offset the reduction in private sector demand?
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{ "text": [ "enacted large fiscal stimulus packages" ], "char_spans": [ { "start": [ 279 ], "end": [ 316 ] } ], "token_spans": [ { "start": [ 49 ], "end": [ 53 ] } ] }
[ "enacted large fiscal stimulus packages" ]
SQuAD
The U.S. Federal Reserve and central banks around the world have taken steps to expand money supplies to avoid the risk of a deflationary spiral, in which lower wages and higher unemployment lead to a self-reinforcing decline in global consumption. In addition, governments have enacted large fiscal stimulus packages, by borrowing and spending to offset the reduction in private sector demand caused by the crisis. The U.S. Federal Reserve's new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity.
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a628ffff2b1c4c8a83b6a020777bed5f
What is the U.S. Federal Reserve's traditional role during a crisis?
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{ "text": [ "lender-of-last-resort" ], "char_spans": [ { "start": [ 549 ], "end": [ 569 ] } ], "token_spans": [ { "start": [ 93 ], "end": [ 99 ] } ] }
[ "lender-of-last-resort" ]
SQuAD
The U.S. Federal Reserve and central banks around the world have taken steps to expand money supplies to avoid the risk of a deflationary spiral, in which lower wages and higher unemployment lead to a self-reinforcing decline in global consumption. In addition, governments have enacted large fiscal stimulus packages, by borrowing and spending to offset the reduction in private sector demand caused by the crisis. The U.S. Federal Reserve's new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity.
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1418afc00e764675804ed90539763943
What did the U.S. Federal Reserve do to increase access to liquidity?
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{ "text": [ "expanded liquidity facilities" ], "char_spans": [ { "start": [ 451 ], "end": [ 479 ] } ], "token_spans": [ { "start": [ 79 ], "end": [ 81 ] } ] }
[ "expanded liquidity facilities" ]
SQuAD
The U.S. Federal Reserve and central banks around the world have taken steps to expand money supplies to avoid the risk of a deflationary spiral, in which lower wages and higher unemployment lead to a self-reinforcing decline in global consumption. In addition, governments have enacted large fiscal stimulus packages, by borrowing and spending to offset the reduction in private sector demand caused by the crisis. The U.S. Federal Reserve's new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity.
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b93bf96a95e64663a148ba96e5b46d62
What type decline does lower wages and higher unemployment lead to?
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{ "text": [ "self-reinforcing decline" ], "char_spans": [ { "start": [ 201 ], "end": [ 224 ] } ], "token_spans": [ { "start": [ 36 ], "end": [ 39 ] } ] }
[ "self-reinforcing decline" ]
SQuAD
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential and commercial mortgage-backed securities, asset-backed securities, and CDOs peaked in 2006 at close to $2 trillion...In 2009, private issuance was less than $150 billion, and almost all of it was asset-backed issuance supported by the Federal Reserve's TALF program to aid credit card, auto and small-business lenders. Issuance of residential and commercial mortgage-backed securities and CDOs remains dormant."
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9bb929a7d97940d9badd8e7d4d39301f
What economist testified to the Financial Crisis Inquiry Commission in January 2010?
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[ "Mark Zandi" ]
SQuAD
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential and commercial mortgage-backed securities, asset-backed securities, and CDOs peaked in 2006 at close to $2 trillion...In 2009, private issuance was less than $150 billion, and almost all of it was asset-backed issuance supported by the Federal Reserve's TALF program to aid credit card, auto and small-business lenders. Issuance of residential and commercial mortgage-backed securities and CDOs remains dormant."
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4fe931236971445e936b630eae6feb37
In January 2010, what markets did Mark Zandi testify about that remain impaired and investors anticipate more loan losses?
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[ "securitization markets" ]
SQuAD
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential and commercial mortgage-backed securities, asset-backed securities, and CDOs peaked in 2006 at close to $2 trillion...In 2009, private issuance was less than $150 billion, and almost all of it was asset-backed issuance supported by the Federal Reserve's TALF program to aid credit card, auto and small-business lenders. Issuance of residential and commercial mortgage-backed securities and CDOs remains dormant."
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c92a6f0d5db04f23829f3307c7f9ff05
What was the value of CDOs at their peak in 2006?
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{ "text": [ "close to $2 trillion" ], "char_spans": [ { "start": [ 415 ], "end": [ 434 ] } ], "token_spans": [ { "start": [ 67 ], "end": [ 71 ] } ] }
[ "close to $2 trillion" ]
SQuAD
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential and commercial mortgage-backed securities, asset-backed securities, and CDOs peaked in 2006 at close to $2 trillion...In 2009, private issuance was less than $150 billion, and almost all of it was asset-backed issuance supported by the Federal Reserve's TALF program to aid credit card, auto and small-business lenders. Issuance of residential and commercial mortgage-backed securities and CDOs remains dormant."
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9e2acfe2ba1e4c0aa822bb09727a2003
What was the private issuance of CDOs in 2009?
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{ "text": [ "less than $150 billion" ], "char_spans": [ { "start": [ 468 ], "end": [ 489 ] } ], "token_spans": [ { "start": [ 79 ], "end": [ 83 ] } ] }
[ "less than $150 billion" ]
SQuAD
Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential and commercial mortgage-backed securities, asset-backed securities, and CDOs peaked in 2006 at close to $2 trillion...In 2009, private issuance was less than $150 billion, and almost all of it was asset-backed issuance supported by the Federal Reserve's TALF program to aid credit card, auto and small-business lenders. Issuance of residential and commercial mortgage-backed securities and CDOs remains dormant."
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6eb001735c7b464b9841c7f973b96042
Almost all of the asset-backed issuance in 2009 was supported by what Federal Reserve program?
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{ "text": [ "TALF" ], "char_spans": [ { "start": [ 574 ], "end": [ 577 ] } ], "token_spans": [ { "start": [ 101 ], "end": [ 101 ] } ] }
[ "TALF" ]
SQuAD
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists with predicting the crisis: Dean Baker (US), Wynne Godley (UK), Fred Harrison (UK), Michael Hudson (US), Eric Janszen (US), Steve Keen (Australia), Jakob Brøchner Madsen & Jens Kjaer Sørensen (Denmark), Kurt Richebächer (US), Nouriel Roubini (US), Peter Schiff (US), and Robert Shiller (US). Examples of other experts who gave indications of a financial crisis have also been given. Not surprisingly, the Austrian economic school regarded the crisis as a vindication and classic example of a predictable credit-fueled bubble that could not forestall the disregarded but inevitable effect of an artificial, manufactured laxity in monetary supply, a perspective that even former Fed Chair Alan Greenspan in Congressional testimony confessed himself forced to return to.
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a56e2ceda0aa474799e74bba10db439c
Who was one of the only mainstream economist to predict the financial crisis?
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{ "text": [ "Raghuram Rajan" ], "char_spans": [ { "start": [ 78 ], "end": [ 91 ] } ], "token_spans": [ { "start": [ 11 ], "end": [ 12 ] } ] }
[ "Raghuram Rajan" ]
SQuAD
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists with predicting the crisis: Dean Baker (US), Wynne Godley (UK), Fred Harrison (UK), Michael Hudson (US), Eric Janszen (US), Steve Keen (Australia), Jakob Brøchner Madsen & Jens Kjaer Sørensen (Denmark), Kurt Richebächer (US), Nouriel Roubini (US), Peter Schiff (US), and Robert Shiller (US). Examples of other experts who gave indications of a financial crisis have also been given. Not surprisingly, the Austrian economic school regarded the crisis as a vindication and classic example of a predictable credit-fueled bubble that could not forestall the disregarded but inevitable effect of an artificial, manufactured laxity in monetary supply, a perspective that even former Fed Chair Alan Greenspan in Congressional testimony confessed himself forced to return to.
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ffec40391df14c8ca39b0d8f60d884af
What did Raghuram Rajan speak of?
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{ "text": [ "Great Moderation" ], "char_spans": [ { "start": [ 119 ], "end": [ 134 ] } ], "token_spans": [ { "start": [ 19 ], "end": [ 20 ] } ] }
[ "Great Moderation" ]
SQuAD
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists with predicting the crisis: Dean Baker (US), Wynne Godley (UK), Fred Harrison (UK), Michael Hudson (US), Eric Janszen (US), Steve Keen (Australia), Jakob Brøchner Madsen & Jens Kjaer Sørensen (Denmark), Kurt Richebächer (US), Nouriel Roubini (US), Peter Schiff (US), and Robert Shiller (US). Examples of other experts who gave indications of a financial crisis have also been given. Not surprisingly, the Austrian economic school regarded the crisis as a vindication and classic example of a predictable credit-fueled bubble that could not forestall the disregarded but inevitable effect of an artificial, manufactured laxity in monetary supply, a perspective that even former Fed Chair Alan Greenspan in Congressional testimony confessed himself forced to return to.
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030c0ef41c604a51b911a3587c0a71fe
Who credit 12 heterodox economists with predicting the crisis in his research credits?
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{ "text": [ "Dirk Bezemer" ], "char_spans": [ { "start": [ 216 ], "end": [ 227 ] } ], "token_spans": [ { "start": [ 35 ], "end": [ 36 ] } ] }
[ "Dirk Bezemer" ]
SQuAD
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists with predicting the crisis: Dean Baker (US), Wynne Godley (UK), Fred Harrison (UK), Michael Hudson (US), Eric Janszen (US), Steve Keen (Australia), Jakob Brøchner Madsen & Jens Kjaer Sørensen (Denmark), Kurt Richebächer (US), Nouriel Roubini (US), Peter Schiff (US), and Robert Shiller (US). Examples of other experts who gave indications of a financial crisis have also been given. Not surprisingly, the Austrian economic school regarded the crisis as a vindication and classic example of a predictable credit-fueled bubble that could not forestall the disregarded but inevitable effect of an artificial, manufactured laxity in monetary supply, a perspective that even former Fed Chair Alan Greenspan in Congressional testimony confessed himself forced to return to.
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6ae8d7a7a9d64385867b96692bc43a62
How did the Austrian economic school regard the crisis?
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{ "text": [ "as a vindication" ], "char_spans": [ { "start": [ 768 ], "end": [ 783 ] } ], "token_spans": [ { "start": [ 155 ], "end": [ 157 ] } ] }
[ "as a vindication" ]
SQuAD
The financial crisis was not widely predicted by mainstream economists except Raghuram Rajan, who instead spoke of the Great Moderation. A number of heterodox economists predicted the crisis, with varying arguments. Dirk Bezemer in his research credits (with supporting argument and estimates of timing) 12 economists with predicting the crisis: Dean Baker (US), Wynne Godley (UK), Fred Harrison (UK), Michael Hudson (US), Eric Janszen (US), Steve Keen (Australia), Jakob Brøchner Madsen & Jens Kjaer Sørensen (Denmark), Kurt Richebächer (US), Nouriel Roubini (US), Peter Schiff (US), and Robert Shiller (US). Examples of other experts who gave indications of a financial crisis have also been given. Not surprisingly, the Austrian economic school regarded the crisis as a vindication and classic example of a predictable credit-fueled bubble that could not forestall the disregarded but inevitable effect of an artificial, manufactured laxity in monetary supply, a perspective that even former Fed Chair Alan Greenspan in Congressional testimony confessed himself forced to return to.
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3c5b4f50700c46758ed5d0ba9b1a52f4
Which former Fed Chair confessed in Congressional testimony to being forced to return to lax monetary supply?
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{ "text": [ "Alan Greenspan" ], "char_spans": [ { "start": [ 1005 ], "end": [ 1018 ] } ], "token_spans": [ { "start": [ 194 ], "end": [ 195 ] } ] }
[ "Alan Greenspan" ]
SQuAD
United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed "The Volcker Rule", in recognition of Paul Volcker, who has publicly argued for the proposed changes.
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What was introduced by President Barack Obama in June 2009?
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[ "a series of regulatory proposals" ]
SQuAD
United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed "The Volcker Rule", in recognition of Paul Volcker, who has publicly argued for the proposed changes.
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What was one of the items important to consumers that was addressed by the new regulatory proposals introduced in June 2009?
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{ "text": [ "consumer protection" ], "char_spans": [ { "start": [ 134 ], "end": [ 152 ] } ], "token_spans": [ { "start": [ 21 ], "end": [ 22 ] } ] }
[ "consumer protection" ]
SQuAD
United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed "The Volcker Rule", in recognition of Paul Volcker, who has publicly argued for the proposed changes.
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Regulations were proposed by Obama in January 2010 to limit the ability of banks to engage in which type trading?
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{ "text": [ "proprietary" ], "char_spans": [ { "start": [ 501 ], "end": [ 511 ] } ], "token_spans": [ { "start": [ 79 ], "end": [ 79 ] } ] }
[ "proprietary" ]
SQuAD
United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed "The Volcker Rule", in recognition of Paul Volcker, who has publicly argued for the proposed changes.
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Who were proposed new regulations called "The Volcker Rule" named after?
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{ "text": [ "Paul Volcker" ], "char_spans": [ { "start": [ 586 ], "end": [ 597 ] } ], "token_spans": [ { "start": [ 95 ], "end": [ 96 ] } ] }
[ "Paul Volcker" ]
SQuAD
United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed "The Volcker Rule", in recognition of Paul Volcker, who has publicly argued for the proposed changes.
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Who publicly argued for changes limiting the ability of banks to engage in proprietary trading?
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[ "Paul Volcker" ]
SQuAD
As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. Such financial innovation enabled institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses.
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3e5317eff58e4518bb85142bd8588fba
What are MBS as related to the housing and credit booms?
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{ "text": [ "mortgage-backed securities" ], "char_spans": [ { "start": [ 83 ], "end": [ 108 ] } ], "token_spans": [ { "start": [ 15 ], "end": [ 18 ] } ] }
[ "mortgage-backed securities" ]
SQuAD
As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. Such financial innovation enabled institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses.
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ab6b747ba15d4bdcbffde0d3bb6f8243
What are CDO as related to the housing and credit booms?
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{ "text": [ "collateralized debt obligations" ], "char_spans": [ { "start": [ 120 ], "end": [ 150 ] } ], "token_spans": [ { "start": [ 23 ], "end": [ 25 ] } ] }
[ "collateralized debt obligations" ]
SQuAD
As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. Such financial innovation enabled institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses.
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When housing prices declined, who reported significant losses from being heavily invested in subprime MBS?
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[ "major global financial institutions" ]
SQuAD
As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. Such financial innovation enabled institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses.
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Who could invest in the U.S. housing market through MBS and CDO?
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{ "text": [ "institutions and investors around the world" ], "char_spans": [ { "start": [ 281 ], "end": [ 323 ] } ], "token_spans": [ { "start": [ 48 ], "end": [ 53 ] } ] }
[ "institutions and investors around the world" ]
SQuAD
As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. Such financial innovation enabled institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses.
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d0343eb9a16d49ed881071a95b557052
MBS and CDO derive their value from?
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{ "text": [ "mortgage payments and housing prices" ], "char_spans": [ { "start": [ 190 ], "end": [ 225 ] } ], "token_spans": [ { "start": [ 35 ], "end": [ 39 ] } ] }
[ "mortgage payments and housing prices" ]
SQuAD
The U.S. Senate passed a reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades.
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181ad9eb81a84b9b8013314ae6c32c94
When did the U.S. Senate first pass a financial reform bill?
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{ "text": [ "May 2010" ], "char_spans": [ { "start": [ 40 ], "end": [ 47 ] } ], "token_spans": [ { "start": [ 8 ], "end": [ 9 ] } ] }
[ "May 2010" ]
SQuAD
The U.S. Senate passed a reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades.
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20192aba19e2441f8630b91390a8f30b
When did the U.S. House first pass a financial reform bill?
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{ "text": [ "December 2009" ], "char_spans": [ { "start": [ 93 ], "end": [ 105 ] } ], "token_spans": [ { "start": [ 19 ], "end": [ 20 ] } ] }
[ "December 2009" ]
SQuAD
The U.S. Senate passed a reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades.
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bacc181c2232442298e519571d38e428
What rule against proprietary trading was not part of legislation passed by either the Senate or House?
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{ "text": [ "Volcker Rule" ], "char_spans": [ { "start": [ 333 ], "end": [ 344 ] } ], "token_spans": [ { "start": [ 62 ], "end": [ 63 ] } ] }
[ "Volcker Rule" ]
SQuAD
The U.S. Senate passed a reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades.
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a18abd031d174f65be0027fd585ea493
Which bill gave regulators the discretion to prohibit proprietary trades?
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[ "Senate" ]
SQuAD
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's very troubling if you have a mirror image," said Dow. Floyd Norris, the chief financial correspondent of The New York Times, wrote in a blog entry in March 2009 that the decline has not been a mirror image of the Great Depression, explaining that although the decline amounts were nearly the same at the time, the rates of decline had started much faster in 2007, and that the past year had only ranked eighth among the worst recorded years of percentage drops in the Dow. The past two years ranked third, however.
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2b8b064222114e47b1546688ee3d58e6
Who is the market strategist that believes distinctions exist between the current crisis and the Great Depression?
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{ "text": [ "Phil Dow" ], "char_spans": [ { "start": [ 18 ], "end": [ 25 ] } ], "token_spans": [ { "start": [ 2 ], "end": [ 3 ] } ] }
[ "Phil Dow" ]
SQuAD
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's very troubling if you have a mirror image," said Dow. Floyd Norris, the chief financial correspondent of The New York Times, wrote in a blog entry in March 2009 that the decline has not been a mirror image of the Great Depression, explaining that although the decline amounts were nearly the same at the time, the rates of decline had started much faster in 2007, and that the past year had only ranked eighth among the worst recorded years of percentage drops in the Dow. The past two years ranked third, however.
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4c8f26e6dd50416f879266b69c25bf58
How much did the Dow Jones average fall during a period of 17 months?
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{ "text": [ "50%" ], "char_spans": [ { "start": [ 168 ], "end": [ 170 ] } ], "token_spans": [ { "start": [ 30 ], "end": [ 31 ] } ] }
[ "50%" ]
SQuAD
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's very troubling if you have a mirror image," said Dow. Floyd Norris, the chief financial correspondent of The New York Times, wrote in a blog entry in March 2009 that the decline has not been a mirror image of the Great Depression, explaining that although the decline amounts were nearly the same at the time, the rates of decline had started much faster in 2007, and that the past year had only ranked eighth among the worst recorded years of percentage drops in the Dow. The past two years ranked third, however.
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3e596a0639e641ff81a48fb979391e3d
What was the percentage the Dow Jones fell in the Great Depression?
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{ "text": [ "54.7%" ], "char_spans": [ { "start": [ 215 ], "end": [ 219 ] } ], "token_spans": [ { "start": [ 42 ], "end": [ 43 ] } ] }
[ "54.7%" ]
SQuAD
Market strategist Phil Dow believes distinctions exist "between the current market malaise" and the Great Depression. He says the Dow Jones average's fall of more than 50% over a period of 17 months is similar to a 54.7% fall in the Great Depression, followed by a total drop of 89% over the following 16 months. "It's very troubling if you have a mirror image," said Dow. Floyd Norris, the chief financial correspondent of The New York Times, wrote in a blog entry in March 2009 that the decline has not been a mirror image of the Great Depression, explaining that although the decline amounts were nearly the same at the time, the rates of decline had started much faster in 2007, and that the past year had only ranked eighth among the worst recorded years of percentage drops in the Dow. The past two years ranked third, however.
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Who was the chief financial correspondent of The New York Times in March 2009?
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{ "text": [ "Floyd Norris" ], "char_spans": [ { "start": [ 373 ], "end": [ 384 ] } ], "token_spans": [ { "start": [ 80 ], "end": [ 81 ] } ] }
[ "Floyd Norris" ]
SQuAD
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that was critical of the financial sector. In that paper, "Has Financial Development Made the World Riskier?", Rajan "argued that disaster might loom." Rajan argued that financial sector managers were encouraged to "take risks that generate severe adverse consequences with small probability but, in return, offer generous compensation the rest of the time. These risks are known as tail risks. But perhaps the most important concern is whether banks will be able to provide liquidity to financial markets so that if the tail risk does materialise, financial positions can be unwound and losses allocated so that the consequences to the real economy are minimised."
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Who was the current Governor of the Reserve Bank of India that predicted the crisis in 2005?
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{ "text": [ "Raghuram Rajan" ], "char_spans": [ { "start": [ 46 ], "end": [ 59 ] } ], "token_spans": [ { "start": [ 8 ], "end": [ 9 ] } ] }
[ "Raghuram Rajan" ]
SQuAD
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that was critical of the financial sector. In that paper, "Has Financial Development Made the World Riskier?", Rajan "argued that disaster might loom." Rajan argued that financial sector managers were encouraged to "take risks that generate severe adverse consequences with small probability but, in return, offer generous compensation the rest of the time. These risks are known as tail risks. But perhaps the most important concern is whether banks will be able to provide liquidity to financial markets so that if the tail risk does materialise, financial positions can be unwound and losses allocated so that the consequences to the real economy are minimised."
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When did Raghuram Rajan become chief economist the the International Monetary Fund?
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{ "text": [ "2005" ], "char_spans": [ { "start": [ 89 ], "end": [ 92 ] } ], "token_spans": [ { "start": [ 15 ], "end": [ 15 ] } ] }
[ "2005" ]
SQuAD
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that was critical of the financial sector. In that paper, "Has Financial Development Made the World Riskier?", Rajan "argued that disaster might loom." Rajan argued that financial sector managers were encouraged to "take risks that generate severe adverse consequences with small probability but, in return, offer generous compensation the rest of the time. These risks are known as tail risks. But perhaps the most important concern is whether banks will be able to provide liquidity to financial markets so that if the tail risk does materialise, financial positions can be unwound and losses allocated so that the consequences to the real economy are minimised."
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In 2005, where did Rajan deliver a controversial paper that was critical of the financial paper?
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{ "text": [ "at a celebration honouring Alan Greenspan" ], "char_spans": [ { "start": [ 169 ], "end": [ 209 ] } ], "token_spans": [ { "start": [ 30 ], "end": [ 35 ] } ] }
[ "at a celebration honouring Alan Greenspan" ]
SQuAD
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that was critical of the financial sector. In that paper, "Has Financial Development Made the World Riskier?", Rajan "argued that disaster might loom." Rajan argued that financial sector managers were encouraged to "take risks that generate severe adverse consequences with small probability but, in return, offer generous compensation the rest of the time. These risks are known as tail risks. But perhaps the most important concern is whether banks will be able to provide liquidity to financial markets so that if the tail risk does materialise, financial positions can be unwound and losses allocated so that the consequences to the real economy are minimised."
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What was the name of Raghuram Rajan's controversial paper delivered in 2005?
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{ "text": [ "\"Has Financial Development Made the World Riskier?\"" ], "char_spans": [ { "start": [ 371 ], "end": [ 421 ] } ], "token_spans": [ { "start": [ 67 ], "end": [ 76 ] } ] }
[ "\"Has Financial Development Made the World Riskier?\"" ]
SQuAD
Current Governor of the Reserve Bank of India Raghuram Rajan had predicted the crisis in 2005 when he became chief economist at the International Monetary Fund.In 2005, at a celebration honouring Alan Greenspan, who was about to retire as chairman of the US Federal Reserve, Rajan delivered a controversial paper that was critical of the financial sector. In that paper, "Has Financial Development Made the World Riskier?", Rajan "argued that disaster might loom." Rajan argued that financial sector managers were encouraged to "take risks that generate severe adverse consequences with small probability but, in return, offer generous compensation the rest of the time. These risks are known as tail risks. But perhaps the most important concern is whether banks will be able to provide liquidity to financial markets so that if the tail risk does materialise, financial positions can be unwound and losses allocated so that the consequences to the real economy are minimised."
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4828f44b7e1a405db5ed732d6addd6a6
What are risks called that generate severe adverse consequences with small probability but generous compensation the rest of the time?
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{ "text": [ "tail risks" ], "char_spans": [ { "start": [ 696 ], "end": [ 705 ] } ], "token_spans": [ { "start": [ 126 ], "end": [ 127 ] } ] }
[ "tail risks" ]
SQuAD
On November 3, 2008, the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP, by 0.1%, for the countries of the Eurozone (France, Germany, Italy, Belgium etc.) and even negative number for the UK (−1.0%), Ireland and Spain. On November 6, the IMF at Washington, D.C., launched numbers predicting a worldwide recession by −0.3% for 2009, averaged over the developed economies. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% down to 3%, and from 3.75% down to 3.25%. As a consequence, starting from November 2008, several countries launched large "help packages" for their economies.
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99110c575f7f46ee920f5b776bea1a18
On November 3, 2008, who predicted extremely weak GDP growth for the Eurozone in 2009?
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{ "text": [ "European Commission at Brussels" ], "char_spans": [ { "start": [ 25 ], "end": [ 55 ] } ], "token_spans": [ { "start": [ 7 ], "end": [ 10 ] } ] }
[ "European Commission at Brussels" ]
SQuAD
On November 3, 2008, the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP, by 0.1%, for the countries of the Eurozone (France, Germany, Italy, Belgium etc.) and even negative number for the UK (−1.0%), Ireland and Spain. On November 6, the IMF at Washington, D.C., launched numbers predicting a worldwide recession by −0.3% for 2009, averaged over the developed economies. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% down to 3%, and from 3.75% down to 3.25%. As a consequence, starting from November 2008, several countries launched large "help packages" for their economies.
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10e2e14da4e949b6baacfbe6081253be
How much did the European Commission estimate the GDP growth for Eurozone countries would be in 2009?
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{ "text": [ "0.1%" ], "char_spans": [ { "start": [ 112 ], "end": [ 115 ] } ], "token_spans": [ { "start": [ 22 ], "end": [ 23 ] } ] }
[ "0.1%" ]
SQuAD
On November 3, 2008, the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP, by 0.1%, for the countries of the Eurozone (France, Germany, Italy, Belgium etc.) and even negative number for the UK (−1.0%), Ireland and Spain. On November 6, the IMF at Washington, D.C., launched numbers predicting a worldwide recession by −0.3% for 2009, averaged over the developed economies. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% down to 3%, and from 3.75% down to 3.25%. As a consequence, starting from November 2008, several countries launched large "help packages" for their economies.
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8bca770d51c341e8bfd51ec4cb58fea4
How much did the European Commission estimate the GDP growth for the UK would be in 2009?
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{ "text": [ "−1.0%" ], "char_spans": [ { "start": [ 228 ], "end": [ 232 ] } ], "token_spans": [ { "start": [ 50 ], "end": [ 51 ] } ] }
[ "−1.0%" ]
SQuAD
On November 3, 2008, the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP, by 0.1%, for the countries of the Eurozone (France, Germany, Italy, Belgium etc.) and even negative number for the UK (−1.0%), Ireland and Spain. On November 6, the IMF at Washington, D.C., launched numbers predicting a worldwide recession by −0.3% for 2009, averaged over the developed economies. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% down to 3%, and from 3.75% down to 3.25%. As a consequence, starting from November 2008, several countries launched large "help packages" for their economies.
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72c238f4706d4d0e93a59ad139188216
On November 6, in Washington, D.C., who predicted a worldwide recession for 2009?
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{ "text": [ "the IMF" ], "char_spans": [ { "start": [ 270 ], "end": [ 276 ] } ], "token_spans": [ { "start": [ 62 ], "end": [ 63 ] } ] }
[ "the IMF" ]
SQuAD
On November 3, 2008, the European Commission at Brussels predicted for 2009 an extremely weak growth of GDP, by 0.1%, for the countries of the Eurozone (France, Germany, Italy, Belgium etc.) and even negative number for the UK (−1.0%), Ireland and Spain. On November 6, the IMF at Washington, D.C., launched numbers predicting a worldwide recession by −0.3% for 2009, averaged over the developed economies. On the same day, the Bank of England and the European Central Bank, respectively, reduced their interest rates from 4.5% down to 3%, and from 3.75% down to 3.25%. As a consequence, starting from November 2008, several countries launched large "help packages" for their economies.
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33b9ca6b3836425f96b60f37aecc62bd
On November 5, 2008, the Bank of England reduced their interest rate from 4.5% to what?
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{ "text": [ "3%" ], "char_spans": [ { "start": [ 536 ], "end": [ 537 ] } ], "token_spans": [ { "start": [ 113 ], "end": [ 114 ] } ] }
[ "3%" ]
SQuAD
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money from housing and other investments into commodities, some to monetary policy, and some to the increasing feeling of raw materials scarcity in a fast-growing world, leading to long positions taken on those markets, such as Chinese increasing presence in Africa. An increase in oil prices tends to divert a larger share of consumer spending into gasoline, which creates downward pressure on economic growth in oil importing countries, as wealth flows to oil-producing states. A pattern of spiking instability in the price of oil over the decade leading up to the price high of 2008 has been recently identified. The destabilizing effects of this price variance has been proposed as a contributory factor in the financial crisis.
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2ae6e619a6d340ef8a0c9bc1e19f46bd
Following the collapse in the housing bubble, what happened to a number of commodity prices?
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{ "text": [ "Rapid increases" ], "char_spans": [ { "start": [ 0 ], "end": [ 14 ] } ], "token_spans": [ { "start": [ 0 ], "end": [ 1 ] } ] }
[ "Rapid increases" ]
SQuAD
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money from housing and other investments into commodities, some to monetary policy, and some to the increasing feeling of raw materials scarcity in a fast-growing world, leading to long positions taken on those markets, such as Chinese increasing presence in Africa. An increase in oil prices tends to divert a larger share of consumer spending into gasoline, which creates downward pressure on economic growth in oil importing countries, as wealth flows to oil-producing states. A pattern of spiking instability in the price of oil over the decade leading up to the price high of 2008 has been recently identified. The destabilizing effects of this price variance has been proposed as a contributory factor in the financial crisis.
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f6ac55a631574b45bd4dd001e88f9a70
How much did the price of oil increase from early 2007 to 2008?
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{ "text": [ "nearly tripled from $50 to $147" ], "char_spans": [ { "start": [ 110 ], "end": [ 140 ] } ], "token_spans": [ { "start": [ 20 ], "end": [ 27 ] } ] }
[ "nearly tripled from $50 to $147" ]
SQuAD
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money from housing and other investments into commodities, some to monetary policy, and some to the increasing feeling of raw materials scarcity in a fast-growing world, leading to long positions taken on those markets, such as Chinese increasing presence in Africa. An increase in oil prices tends to divert a larger share of consumer spending into gasoline, which creates downward pressure on economic growth in oil importing countries, as wealth flows to oil-producing states. A pattern of spiking instability in the price of oil over the decade leading up to the price high of 2008 has been recently identified. The destabilizing effects of this price variance has been proposed as a contributory factor in the financial crisis.
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8955e3c5e0b84d6f8cee3f3bf7efecdf
What did the price of oil began doing when the financial crisis began to take hold in late 2008?
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{ "text": [ "plunging" ], "char_spans": [ { "start": [ 174 ], "end": [ 181 ] } ], "token_spans": [ { "start": [ 35 ], "end": [ 35 ] } ] }
[ "plunging" ]
SQuAD
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money from housing and other investments into commodities, some to monetary policy, and some to the increasing feeling of raw materials scarcity in a fast-growing world, leading to long positions taken on those markets, such as Chinese increasing presence in Africa. An increase in oil prices tends to divert a larger share of consumer spending into gasoline, which creates downward pressure on economic growth in oil importing countries, as wealth flows to oil-producing states. A pattern of spiking instability in the price of oil over the decade leading up to the price high of 2008 has been recently identified. The destabilizing effects of this price variance has been proposed as a contributory factor in the financial crisis.
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580c52821f8848fb96006f61d71a2cb0
What is one of the reasons experts believe contributed to the volatilaty in oil prices in 2008?
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{ "text": [ "monetary policy" ], "char_spans": [ { "start": [ 382 ], "end": [ 396 ] } ], "token_spans": [ { "start": [ 72 ], "end": [ 73 ] } ] }
[ "monetary policy" ]
SQuAD
Rapid increases in a number of commodity prices followed the collapse in the housing bubble. The price of oil nearly tripled from $50 to $147 from early 2007 to 2008, before plunging as the financial crisis began to take hold in late 2008. Experts debate the causes, with some attributing it to speculative flow of money from housing and other investments into commodities, some to monetary policy, and some to the increasing feeling of raw materials scarcity in a fast-growing world, leading to long positions taken on those markets, such as Chinese increasing presence in Africa. An increase in oil prices tends to divert a larger share of consumer spending into gasoline, which creates downward pressure on economic growth in oil importing countries, as wealth flows to oil-producing states. A pattern of spiking instability in the price of oil over the decade leading up to the price high of 2008 has been recently identified. The destabilizing effects of this price variance has been proposed as a contributory factor in the financial crisis.
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acb5b7bf4528418387392a66eab76d84
Consumers tend to have less money to spend on other goods, when the price of which commodity is higher?
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{ "text": [ "gasoline" ], "char_spans": [ { "start": [ 665 ], "end": [ 672 ] } ], "token_spans": [ { "start": [ 124 ], "end": [ 124 ] } ] }
[ "gasoline" ]
SQuAD
Falling prices also resulted in homes worth less than the mortgage loan, providing a financial incentive to enter foreclosure. The ongoing foreclosure epidemic that began in late 2006 in the U.S. continues to drain wealth from consumers and erodes the financial strength of banking institutions. Defaults and losses on other loan types also increased significantly as the crisis expanded from the housing market to other parts of the economy. Total losses are estimated in the trillions of U.S. dollars globally.
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b4a4fb01bcea431094f28e7a415b971f
How much are total losses estimated to be from falling home prices?
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{ "text": [ "trillions of U.S. dollars" ], "char_spans": [ { "start": [ 477 ], "end": [ 501 ] } ], "token_spans": [ { "start": [ 79 ], "end": [ 82 ] } ] }
[ "trillions of U.S. dollars" ]
SQuAD
Falling prices also resulted in homes worth less than the mortgage loan, providing a financial incentive to enter foreclosure. The ongoing foreclosure epidemic that began in late 2006 in the U.S. continues to drain wealth from consumers and erodes the financial strength of banking institutions. Defaults and losses on other loan types also increased significantly as the crisis expanded from the housing market to other parts of the economy. Total losses are estimated in the trillions of U.S. dollars globally.
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3019eae8fa6546a9885793b715111778
What is the financial incentive when a home is worth less than the mortgage loan?
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{ "text": [ "foreclosure" ], "char_spans": [ { "start": [ 114 ], "end": [ 124 ] } ], "token_spans": [ { "start": [ 19 ], "end": [ 19 ] } ] }
[ "foreclosure" ]
SQuAD
Falling prices also resulted in homes worth less than the mortgage loan, providing a financial incentive to enter foreclosure. The ongoing foreclosure epidemic that began in late 2006 in the U.S. continues to drain wealth from consumers and erodes the financial strength of banking institutions. Defaults and losses on other loan types also increased significantly as the crisis expanded from the housing market to other parts of the economy. Total losses are estimated in the trillions of U.S. dollars globally.
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2f3407f64c864a269fab6dd6ecf3b460
What year did the foreclosure epidemic begin?
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{ "text": [ "late 2006" ], "char_spans": [ { "start": [ 174 ], "end": [ 182 ] } ], "token_spans": [ { "start": [ 28 ], "end": [ 29 ] } ] }
[ "late 2006" ]
SQuAD
Falling prices also resulted in homes worth less than the mortgage loan, providing a financial incentive to enter foreclosure. The ongoing foreclosure epidemic that began in late 2006 in the U.S. continues to drain wealth from consumers and erodes the financial strength of banking institutions. Defaults and losses on other loan types also increased significantly as the crisis expanded from the housing market to other parts of the economy. Total losses are estimated in the trillions of U.S. dollars globally.
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8f3f3b1dbfed4720951b105bd1f9926a
What other financial instruments had significant defaults and losses as a result of the crisis expanding from housing to other parts of the economy?
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{ "text": [ "other loan types" ], "char_spans": [ { "start": [ 319 ], "end": [ 334 ] } ], "token_spans": [ { "start": [ 52 ], "end": [ 54 ] } ] }
[ "other loan types" ]