id
stringlengths 24
24
| title
stringclasses 442
values | context
stringlengths 151
3.71k
| question
stringlengths 1
25.7k
| answers
dict |
|---|---|---|---|---|
57326bf10fdd8d15006c6ab6
|
The_Bronx
|
Mid-20th century movies set in the Bronx portrayed densely settled, working-class, urban culture. Hollywood films such as From This Day Forward (1946), set in Highbridge, occasionally delved into Bronx life. Paddy Chayefsky's Academy Award-winning Marty was the most notable examination of working class Bronx life was also explored by Chayefsky in his 1956 film The Catered Affair, and in the 1993 Robert De Niro/Chazz Palminteri film, A Bronx Tale, Spike Lee's 1999 movie Summer of Sam, centered in an Italian-American Bronx community, 1994's I Like It Like That that takes place in the predominantly Puerto Rican neighborhood of the South Bronx, and Doughboys, the story of two Italian-American brothers in danger of losing their bakery thanks to one brother's gambling debts.
|
Where was 'From This Day Forward' set?
|
{
"text": [
"Highbridge"
],
"answer_start": [
159
]
}
|
57326bf10fdd8d15006c6ab7
|
The_Bronx
|
Mid-20th century movies set in the Bronx portrayed densely settled, working-class, urban culture. Hollywood films such as From This Day Forward (1946), set in Highbridge, occasionally delved into Bronx life. Paddy Chayefsky's Academy Award-winning Marty was the most notable examination of working class Bronx life was also explored by Chayefsky in his 1956 film The Catered Affair, and in the 1993 Robert De Niro/Chazz Palminteri film, A Bronx Tale, Spike Lee's 1999 movie Summer of Sam, centered in an Italian-American Bronx community, 1994's I Like It Like That that takes place in the predominantly Puerto Rican neighborhood of the South Bronx, and Doughboys, the story of two Italian-American brothers in danger of losing their bakery thanks to one brother's gambling debts.
|
When was 'The Catered Affair' released?
|
{
"text": [
"1956"
],
"answer_start": [
353
]
}
|
57326bf10fdd8d15006c6ab8
|
The_Bronx
|
Mid-20th century movies set in the Bronx portrayed densely settled, working-class, urban culture. Hollywood films such as From This Day Forward (1946), set in Highbridge, occasionally delved into Bronx life. Paddy Chayefsky's Academy Award-winning Marty was the most notable examination of working class Bronx life was also explored by Chayefsky in his 1956 film The Catered Affair, and in the 1993 Robert De Niro/Chazz Palminteri film, A Bronx Tale, Spike Lee's 1999 movie Summer of Sam, centered in an Italian-American Bronx community, 1994's I Like It Like That that takes place in the predominantly Puerto Rican neighborhood of the South Bronx, and Doughboys, the story of two Italian-American brothers in danger of losing their bakery thanks to one brother's gambling debts.
|
What did 'The Catered Affair' explore?
|
{
"text": [
"working class Bronx life"
],
"answer_start": [
290
]
}
|
57326bf10fdd8d15006c6ab9
|
The_Bronx
|
Mid-20th century movies set in the Bronx portrayed densely settled, working-class, urban culture. Hollywood films such as From This Day Forward (1946), set in Highbridge, occasionally delved into Bronx life. Paddy Chayefsky's Academy Award-winning Marty was the most notable examination of working class Bronx life was also explored by Chayefsky in his 1956 film The Catered Affair, and in the 1993 Robert De Niro/Chazz Palminteri film, A Bronx Tale, Spike Lee's 1999 movie Summer of Sam, centered in an Italian-American Bronx community, 1994's I Like It Like That that takes place in the predominantly Puerto Rican neighborhood of the South Bronx, and Doughboys, the story of two Italian-American brothers in danger of losing their bakery thanks to one brother's gambling debts.
|
What was 'Summer of Sam' about?
|
{
"text": [
"an Italian-American Bronx community"
],
"answer_start": [
501
]
}
|
57326c5ae99e3014001e6794
|
The_Bronx
|
Starting in the 1970s, the Bronx often symbolized violence, decay, and urban ruin. The wave of arson in the South Bronx in the 1960s and 1970s inspired the observation that "The Bronx is burning": in 1974 it was the title of both a New York Times editorial and a BBC documentary film. The line entered the pop-consciousness with Game Two of the 1977 World Series, when a fire broke out near Yankee Stadium as the team was playing the Los Angeles Dodgers. Numerous fires had previously broken out in the Bronx prior to this fire. As the fire was captured on live television, announcer Howard Cosell is wrongly remembered to have said something like, "There it is, ladies and gentlemen: the Bronx is burning". Historians of New York City frequently point to Cosell's remark as an acknowledgement of both the city and the borough's decline. A new feature-length documentary film by Edwin Pagan called Bronx Burning is in production in 2006, chronicling what led up to the numerous arson-for-insurance fraud fires of the 1970s in the borough.
|
Where was arson a big problem in the Bronx?
|
{
"text": [
"the South Bronx"
],
"answer_start": [
104
]
}
|
57326c5ae99e3014001e6795
|
The_Bronx
|
Starting in the 1970s, the Bronx often symbolized violence, decay, and urban ruin. The wave of arson in the South Bronx in the 1960s and 1970s inspired the observation that "The Bronx is burning": in 1974 it was the title of both a New York Times editorial and a BBC documentary film. The line entered the pop-consciousness with Game Two of the 1977 World Series, when a fire broke out near Yankee Stadium as the team was playing the Los Angeles Dodgers. Numerous fires had previously broken out in the Bronx prior to this fire. As the fire was captured on live television, announcer Howard Cosell is wrongly remembered to have said something like, "There it is, ladies and gentlemen: the Bronx is burning". Historians of New York City frequently point to Cosell's remark as an acknowledgement of both the city and the borough's decline. A new feature-length documentary film by Edwin Pagan called Bronx Burning is in production in 2006, chronicling what led up to the numerous arson-for-insurance fraud fires of the 1970s in the borough.
|
When was the phrase "The Bronx is burning" first widespread?
|
{
"text": [
"1974"
],
"answer_start": [
200
]
}
|
57326c5ae99e3014001e6796
|
The_Bronx
|
Starting in the 1970s, the Bronx often symbolized violence, decay, and urban ruin. The wave of arson in the South Bronx in the 1960s and 1970s inspired the observation that "The Bronx is burning": in 1974 it was the title of both a New York Times editorial and a BBC documentary film. The line entered the pop-consciousness with Game Two of the 1977 World Series, when a fire broke out near Yankee Stadium as the team was playing the Los Angeles Dodgers. Numerous fires had previously broken out in the Bronx prior to this fire. As the fire was captured on live television, announcer Howard Cosell is wrongly remembered to have said something like, "There it is, ladies and gentlemen: the Bronx is burning". Historians of New York City frequently point to Cosell's remark as an acknowledgement of both the city and the borough's decline. A new feature-length documentary film by Edwin Pagan called Bronx Burning is in production in 2006, chronicling what led up to the numerous arson-for-insurance fraud fires of the 1970s in the borough.
|
Who made a documentary called "The Bronx is burning"?
|
{
"text": [
"BBC"
],
"answer_start": [
263
]
}
|
57326c5ae99e3014001e6797
|
The_Bronx
|
Starting in the 1970s, the Bronx often symbolized violence, decay, and urban ruin. The wave of arson in the South Bronx in the 1960s and 1970s inspired the observation that "The Bronx is burning": in 1974 it was the title of both a New York Times editorial and a BBC documentary film. The line entered the pop-consciousness with Game Two of the 1977 World Series, when a fire broke out near Yankee Stadium as the team was playing the Los Angeles Dodgers. Numerous fires had previously broken out in the Bronx prior to this fire. As the fire was captured on live television, announcer Howard Cosell is wrongly remembered to have said something like, "There it is, ladies and gentlemen: the Bronx is burning". Historians of New York City frequently point to Cosell's remark as an acknowledgement of both the city and the borough's decline. A new feature-length documentary film by Edwin Pagan called Bronx Burning is in production in 2006, chronicling what led up to the numerous arson-for-insurance fraud fires of the 1970s in the borough.
|
Who published an editorial called "The Bronx is burning"?
|
{
"text": [
"New York Times"
],
"answer_start": [
232
]
}
|
57326c5ae99e3014001e6798
|
The_Bronx
|
Starting in the 1970s, the Bronx often symbolized violence, decay, and urban ruin. The wave of arson in the South Bronx in the 1960s and 1970s inspired the observation that "The Bronx is burning": in 1974 it was the title of both a New York Times editorial and a BBC documentary film. The line entered the pop-consciousness with Game Two of the 1977 World Series, when a fire broke out near Yankee Stadium as the team was playing the Los Angeles Dodgers. Numerous fires had previously broken out in the Bronx prior to this fire. As the fire was captured on live television, announcer Howard Cosell is wrongly remembered to have said something like, "There it is, ladies and gentlemen: the Bronx is burning". Historians of New York City frequently point to Cosell's remark as an acknowledgement of both the city and the borough's decline. A new feature-length documentary film by Edwin Pagan called Bronx Burning is in production in 2006, chronicling what led up to the numerous arson-for-insurance fraud fires of the 1970s in the borough.
|
Who made a film called 'Bronx Burning'?
|
{
"text": [
"Edwin Pagan"
],
"answer_start": [
879
]
}
|
57326c8b0fdd8d15006c6abf
|
The_Bronx
|
Bronx gang life was depicted in the 1974 novel The Wanderers by Bronx native Richard Price and the 1979 movie of the same name. They are set in the heart of the Bronx, showing apartment life and the then-landmark Krums ice cream parlor. In the 1979 film The Warriors, the eponymous gang go to a meeting in Van Cortlandt Park in the Bronx, and have to fight their way out of the borough and get back to Coney Island in Brooklyn. A Bronx Tale (1993) depicts gang activities in the Belmont "Little Italy" section of the Bronx. The 2005 video game adaptation features levels called Pelham, Tremont, and "Gunhill" (a play off the name Gun Hill Road). This theme lends itself to the title of The Bronx Is Burning, an eight-part ESPN TV mini-series (2007) about the New York Yankees' drive to winning baseball's 1977 World Series. The TV series emphasizes the boisterous nature of the team, led by manager Billy Martin, catcher Thurman Munson and outfielder Reggie Jackson, as well as the malaise of the Bronx and New York City in general during that time, such as the blackout, the city's serious financial woes and near bankruptcy, the arson for insurance payments, and the election of Ed Koch as mayor.
|
When was 'The Wanderers' published?
|
{
"text": [
"1974"
],
"answer_start": [
36
]
}
|
57326c8b0fdd8d15006c6ac0
|
The_Bronx
|
Bronx gang life was depicted in the 1974 novel The Wanderers by Bronx native Richard Price and the 1979 movie of the same name. They are set in the heart of the Bronx, showing apartment life and the then-landmark Krums ice cream parlor. In the 1979 film The Warriors, the eponymous gang go to a meeting in Van Cortlandt Park in the Bronx, and have to fight their way out of the borough and get back to Coney Island in Brooklyn. A Bronx Tale (1993) depicts gang activities in the Belmont "Little Italy" section of the Bronx. The 2005 video game adaptation features levels called Pelham, Tremont, and "Gunhill" (a play off the name Gun Hill Road). This theme lends itself to the title of The Bronx Is Burning, an eight-part ESPN TV mini-series (2007) about the New York Yankees' drive to winning baseball's 1977 World Series. The TV series emphasizes the boisterous nature of the team, led by manager Billy Martin, catcher Thurman Munson and outfielder Reggie Jackson, as well as the malaise of the Bronx and New York City in general during that time, such as the blackout, the city's serious financial woes and near bankruptcy, the arson for insurance payments, and the election of Ed Koch as mayor.
|
When was 'The Wanderers' movie released?
|
{
"text": [
"1979"
],
"answer_start": [
99
]
}
|
57326c8b0fdd8d15006c6ac1
|
The_Bronx
|
Bronx gang life was depicted in the 1974 novel The Wanderers by Bronx native Richard Price and the 1979 movie of the same name. They are set in the heart of the Bronx, showing apartment life and the then-landmark Krums ice cream parlor. In the 1979 film The Warriors, the eponymous gang go to a meeting in Van Cortlandt Park in the Bronx, and have to fight their way out of the borough and get back to Coney Island in Brooklyn. A Bronx Tale (1993) depicts gang activities in the Belmont "Little Italy" section of the Bronx. The 2005 video game adaptation features levels called Pelham, Tremont, and "Gunhill" (a play off the name Gun Hill Road). This theme lends itself to the title of The Bronx Is Burning, an eight-part ESPN TV mini-series (2007) about the New York Yankees' drive to winning baseball's 1977 World Series. The TV series emphasizes the boisterous nature of the team, led by manager Billy Martin, catcher Thurman Munson and outfielder Reggie Jackson, as well as the malaise of the Bronx and New York City in general during that time, such as the blackout, the city's serious financial woes and near bankruptcy, the arson for insurance payments, and the election of Ed Koch as mayor.
|
When was 'The Warriors' movie released?
|
{
"text": [
"1979"
],
"answer_start": [
244
]
}
|
57326c8b0fdd8d15006c6ac2
|
The_Bronx
|
Bronx gang life was depicted in the 1974 novel The Wanderers by Bronx native Richard Price and the 1979 movie of the same name. They are set in the heart of the Bronx, showing apartment life and the then-landmark Krums ice cream parlor. In the 1979 film The Warriors, the eponymous gang go to a meeting in Van Cortlandt Park in the Bronx, and have to fight their way out of the borough and get back to Coney Island in Brooklyn. A Bronx Tale (1993) depicts gang activities in the Belmont "Little Italy" section of the Bronx. The 2005 video game adaptation features levels called Pelham, Tremont, and "Gunhill" (a play off the name Gun Hill Road). This theme lends itself to the title of The Bronx Is Burning, an eight-part ESPN TV mini-series (2007) about the New York Yankees' drive to winning baseball's 1977 World Series. The TV series emphasizes the boisterous nature of the team, led by manager Billy Martin, catcher Thurman Munson and outfielder Reggie Jackson, as well as the malaise of the Bronx and New York City in general during that time, such as the blackout, the city's serious financial woes and near bankruptcy, the arson for insurance payments, and the election of Ed Koch as mayor.
|
When was 'A Bronx Tale' released?
|
{
"text": [
"1993"
],
"answer_start": [
442
]
}
|
57326cc2e17f3d1400422979
|
The_Bronx
|
The 1981 film Fort Apache, The Bronx is another film that used the Bronx's gritty image for its storyline. The movie's title is from the nickname for the 41st Police Precinct in the South Bronx which was nicknamed "Fort Apache". Also from 1981 is the horror film Wolfen making use of the rubble of the Bronx as a home for werewolf type creatures. Knights of the South Bronx, a true story of a teacher who worked with disadvantaged children, is another film also set in the Bronx released in 2005. The Bronx was the setting for the 1983 film Fuga dal Bronx, also known as Bronx Warriors 2 and Escape 2000, an Italian B-movie best known for its appearance on the television series Mystery Science Theatre 3000. The plot revolves around a sinister construction corporation's plans to depopulate, destroy and redevelop the Bronx, and a band of rebels who are out to expose the corporation's murderous ways and save their homes. The film is memorable for its almost incessant use of the phrase, "Leave the Bronx!" Many of the movie's scenes were filmed in Queens, substituting as the Bronx. Rumble in the Bronx was a 1995 Jackie Chan kung-fu film, another which popularised the Bronx to international audiences. Last Bronx, a 1996 Sega game played on the bad reputation of the Bronx to lend its name to an alternate version of post-Japanese bubble Tokyo, where crime and gang warfare is rampant.
|
When was 'Fort Apache' released?
|
{
"text": [
"1981"
],
"answer_start": [
4
]
}
|
57326cc2e17f3d140042297a
|
The_Bronx
|
The 1981 film Fort Apache, The Bronx is another film that used the Bronx's gritty image for its storyline. The movie's title is from the nickname for the 41st Police Precinct in the South Bronx which was nicknamed "Fort Apache". Also from 1981 is the horror film Wolfen making use of the rubble of the Bronx as a home for werewolf type creatures. Knights of the South Bronx, a true story of a teacher who worked with disadvantaged children, is another film also set in the Bronx released in 2005. The Bronx was the setting for the 1983 film Fuga dal Bronx, also known as Bronx Warriors 2 and Escape 2000, an Italian B-movie best known for its appearance on the television series Mystery Science Theatre 3000. The plot revolves around a sinister construction corporation's plans to depopulate, destroy and redevelop the Bronx, and a band of rebels who are out to expose the corporation's murderous ways and save their homes. The film is memorable for its almost incessant use of the phrase, "Leave the Bronx!" Many of the movie's scenes were filmed in Queens, substituting as the Bronx. Rumble in the Bronx was a 1995 Jackie Chan kung-fu film, another which popularised the Bronx to international audiences. Last Bronx, a 1996 Sega game played on the bad reputation of the Bronx to lend its name to an alternate version of post-Japanese bubble Tokyo, where crime and gang warfare is rampant.
|
When was 'Fuga dal Bronx' released?
|
{
"text": [
"2005"
],
"answer_start": [
491
]
}
|
57326cc2e17f3d140042297b
|
The_Bronx
|
The 1981 film Fort Apache, The Bronx is another film that used the Bronx's gritty image for its storyline. The movie's title is from the nickname for the 41st Police Precinct in the South Bronx which was nicknamed "Fort Apache". Also from 1981 is the horror film Wolfen making use of the rubble of the Bronx as a home for werewolf type creatures. Knights of the South Bronx, a true story of a teacher who worked with disadvantaged children, is another film also set in the Bronx released in 2005. The Bronx was the setting for the 1983 film Fuga dal Bronx, also known as Bronx Warriors 2 and Escape 2000, an Italian B-movie best known for its appearance on the television series Mystery Science Theatre 3000. The plot revolves around a sinister construction corporation's plans to depopulate, destroy and redevelop the Bronx, and a band of rebels who are out to expose the corporation's murderous ways and save their homes. The film is memorable for its almost incessant use of the phrase, "Leave the Bronx!" Many of the movie's scenes were filmed in Queens, substituting as the Bronx. Rumble in the Bronx was a 1995 Jackie Chan kung-fu film, another which popularised the Bronx to international audiences. Last Bronx, a 1996 Sega game played on the bad reputation of the Bronx to lend its name to an alternate version of post-Japanese bubble Tokyo, where crime and gang warfare is rampant.
|
What origin was 'Escape 2000'?
|
{
"text": [
"Italian"
],
"answer_start": [
608
]
}
|
57326cefe99e3014001e67a6
|
The_Bronx
|
Bronx native Nancy Savoca's 1989 comedy, True Love, explores two Italian-American Bronx sweethearts in the days before their wedding. The film, which debuted Annabella Sciorra and Ron Eldard as the betrothed couple, won the Grand Jury Prize at that year's Sundance Film Festival. The CBS television sitcom Becker, 1998–2004, was more ambiguous. The show starred Ted Danson as Dr. John Becker, a doctor who operated a small practice and was constantly annoyed by his patients, co-workers, friends, and practically everything and everybody else in his world. It showed his everyday life as a doctor working in a small clinic in the Bronx.
|
When was 'True Love' released?
|
{
"text": [
"1989"
],
"answer_start": [
28
]
}
|
57326cefe99e3014001e67a7
|
The_Bronx
|
Bronx native Nancy Savoca's 1989 comedy, True Love, explores two Italian-American Bronx sweethearts in the days before their wedding. The film, which debuted Annabella Sciorra and Ron Eldard as the betrothed couple, won the Grand Jury Prize at that year's Sundance Film Festival. The CBS television sitcom Becker, 1998–2004, was more ambiguous. The show starred Ted Danson as Dr. John Becker, a doctor who operated a small practice and was constantly annoyed by his patients, co-workers, friends, and practically everything and everybody else in his world. It showed his everyday life as a doctor working in a small clinic in the Bronx.
|
What genre was 'True Love'?
|
{
"text": [
"comedy"
],
"answer_start": [
33
]
}
|
57326cefe99e3014001e67a8
|
The_Bronx
|
Bronx native Nancy Savoca's 1989 comedy, True Love, explores two Italian-American Bronx sweethearts in the days before their wedding. The film, which debuted Annabella Sciorra and Ron Eldard as the betrothed couple, won the Grand Jury Prize at that year's Sundance Film Festival. The CBS television sitcom Becker, 1998–2004, was more ambiguous. The show starred Ted Danson as Dr. John Becker, a doctor who operated a small practice and was constantly annoyed by his patients, co-workers, friends, and practically everything and everybody else in his world. It showed his everyday life as a doctor working in a small clinic in the Bronx.
|
Who starred in 'True Love'?
|
{
"text": [
"Annabella Sciorra and Ron Eldard"
],
"answer_start": [
158
]
}
|
57326d2f0fdd8d15006c6ad1
|
The_Bronx
|
Penny Marshall's 1990 film Awakenings, which was nominated for several Oscars, is based on neurologist Oliver Sacks' 1973 account of his psychiatric patients at Beth Abraham Hospital in the Bronx who were paralyzed by a form of encephalitis but briefly responded to the drug L-dopa. Robin Williams played the physician; Robert De Niro was one of the patients who emerged from a catatonic (frozen) state. The home of Williams' character was shot not far from Sacks' actual City Island residence. A 1973 Yorkshire Television documentary and "A Kind of Alaska", a 1985 play by Harold Pinter, were also based on Sacks' book.
|
When did "Awakenings" come out?
|
{
"text": [
"1990"
],
"answer_start": [
17
]
}
|
57326d2f0fdd8d15006c6ad2
|
The_Bronx
|
Penny Marshall's 1990 film Awakenings, which was nominated for several Oscars, is based on neurologist Oliver Sacks' 1973 account of his psychiatric patients at Beth Abraham Hospital in the Bronx who were paralyzed by a form of encephalitis but briefly responded to the drug L-dopa. Robin Williams played the physician; Robert De Niro was one of the patients who emerged from a catatonic (frozen) state. The home of Williams' character was shot not far from Sacks' actual City Island residence. A 1973 Yorkshire Television documentary and "A Kind of Alaska", a 1985 play by Harold Pinter, were also based on Sacks' book.
|
Whose real story is 'Awakenings' based on?
|
{
"text": [
"Oliver Sacks"
],
"answer_start": [
103
]
}
|
57326d2f0fdd8d15006c6ad3
|
The_Bronx
|
Penny Marshall's 1990 film Awakenings, which was nominated for several Oscars, is based on neurologist Oliver Sacks' 1973 account of his psychiatric patients at Beth Abraham Hospital in the Bronx who were paralyzed by a form of encephalitis but briefly responded to the drug L-dopa. Robin Williams played the physician; Robert De Niro was one of the patients who emerged from a catatonic (frozen) state. The home of Williams' character was shot not far from Sacks' actual City Island residence. A 1973 Yorkshire Television documentary and "A Kind of Alaska", a 1985 play by Harold Pinter, were also based on Sacks' book.
|
What is Sacks' career?
|
{
"text": [
"neurologist"
],
"answer_start": [
91
]
}
|
57326d2f0fdd8d15006c6ad4
|
The_Bronx
|
Penny Marshall's 1990 film Awakenings, which was nominated for several Oscars, is based on neurologist Oliver Sacks' 1973 account of his psychiatric patients at Beth Abraham Hospital in the Bronx who were paralyzed by a form of encephalitis but briefly responded to the drug L-dopa. Robin Williams played the physician; Robert De Niro was one of the patients who emerged from a catatonic (frozen) state. The home of Williams' character was shot not far from Sacks' actual City Island residence. A 1973 Yorkshire Television documentary and "A Kind of Alaska", a 1985 play by Harold Pinter, were also based on Sacks' book.
|
When was 'A Kind of Alaska' performed?
|
{
"text": [
"1985"
],
"answer_start": [
561
]
}
|
57326d2f0fdd8d15006c6ad5
|
The_Bronx
|
Penny Marshall's 1990 film Awakenings, which was nominated for several Oscars, is based on neurologist Oliver Sacks' 1973 account of his psychiatric patients at Beth Abraham Hospital in the Bronx who were paralyzed by a form of encephalitis but briefly responded to the drug L-dopa. Robin Williams played the physician; Robert De Niro was one of the patients who emerged from a catatonic (frozen) state. The home of Williams' character was shot not far from Sacks' actual City Island residence. A 1973 Yorkshire Television documentary and "A Kind of Alaska", a 1985 play by Harold Pinter, were also based on Sacks' book.
|
Who wrote 'A Kind of Alaska'?
|
{
"text": [
"Harold Pinter"
],
"answer_start": [
574
]
}
|
57326d86b9d445190005eb17
|
The_Bronx
|
The Bronx has been featured significantly in fiction literature. All of the characters in Herman Wouk's City Boy: The Adventures of Herbie Bookbinder (1948) live in the Bronx, and about half of the action is set there. Kate Simon's Bronx Primitive: Portraits of a Childhood is directly autobiographical, a warm account of a Polish-Jewish girl in an immigrant family growing up before World War II, and living near Arthur Avenue and Tremont Avenue. In Jacob M. Appel's short story, "The Grand Concourse" (2007), a woman who grew up in the iconic Lewis Morris Building returns to the Morrisania neighborhood with her adult daughter. Similarly, in Avery Corman's book The Old Neighborhood (1980), an upper-middle class white protagonist returns to his birth neighborhood (Fordham Road and the Grand Concourse), and learns that even though the folks are poor, Hispanic and African-American, they are good people.
|
When was 'City Boy: The Adventures of Herbie Bookbinder' published?
|
{
"text": [
"1948"
],
"answer_start": [
151
]
}
|
57326d86b9d445190005eb18
|
The_Bronx
|
The Bronx has been featured significantly in fiction literature. All of the characters in Herman Wouk's City Boy: The Adventures of Herbie Bookbinder (1948) live in the Bronx, and about half of the action is set there. Kate Simon's Bronx Primitive: Portraits of a Childhood is directly autobiographical, a warm account of a Polish-Jewish girl in an immigrant family growing up before World War II, and living near Arthur Avenue and Tremont Avenue. In Jacob M. Appel's short story, "The Grand Concourse" (2007), a woman who grew up in the iconic Lewis Morris Building returns to the Morrisania neighborhood with her adult daughter. Similarly, in Avery Corman's book The Old Neighborhood (1980), an upper-middle class white protagonist returns to his birth neighborhood (Fordham Road and the Grand Concourse), and learns that even though the folks are poor, Hispanic and African-American, they are good people.
|
How much of 'City Boy: The Adventures of Herbie Bookbinder' is set in the Bronx?
|
{
"text": [
"about half"
],
"answer_start": [
180
]
}
|
57326d86b9d445190005eb19
|
The_Bronx
|
The Bronx has been featured significantly in fiction literature. All of the characters in Herman Wouk's City Boy: The Adventures of Herbie Bookbinder (1948) live in the Bronx, and about half of the action is set there. Kate Simon's Bronx Primitive: Portraits of a Childhood is directly autobiographical, a warm account of a Polish-Jewish girl in an immigrant family growing up before World War II, and living near Arthur Avenue and Tremont Avenue. In Jacob M. Appel's short story, "The Grand Concourse" (2007), a woman who grew up in the iconic Lewis Morris Building returns to the Morrisania neighborhood with her adult daughter. Similarly, in Avery Corman's book The Old Neighborhood (1980), an upper-middle class white protagonist returns to his birth neighborhood (Fordham Road and the Grand Concourse), and learns that even though the folks are poor, Hispanic and African-American, they are good people.
|
Who wrote 'City Boy: The Adventures of Herbie Bookbinder'?
|
{
"text": [
"Herman Wouk"
],
"answer_start": [
90
]
}
|
57326d86b9d445190005eb1a
|
The_Bronx
|
The Bronx has been featured significantly in fiction literature. All of the characters in Herman Wouk's City Boy: The Adventures of Herbie Bookbinder (1948) live in the Bronx, and about half of the action is set there. Kate Simon's Bronx Primitive: Portraits of a Childhood is directly autobiographical, a warm account of a Polish-Jewish girl in an immigrant family growing up before World War II, and living near Arthur Avenue and Tremont Avenue. In Jacob M. Appel's short story, "The Grand Concourse" (2007), a woman who grew up in the iconic Lewis Morris Building returns to the Morrisania neighborhood with her adult daughter. Similarly, in Avery Corman's book The Old Neighborhood (1980), an upper-middle class white protagonist returns to his birth neighborhood (Fordham Road and the Grand Concourse), and learns that even though the folks are poor, Hispanic and African-American, they are good people.
|
When was 'The Grand Concourse' published?
|
{
"text": [
"2007"
],
"answer_start": [
504
]
}
|
57326d86b9d445190005eb1b
|
The_Bronx
|
The Bronx has been featured significantly in fiction literature. All of the characters in Herman Wouk's City Boy: The Adventures of Herbie Bookbinder (1948) live in the Bronx, and about half of the action is set there. Kate Simon's Bronx Primitive: Portraits of a Childhood is directly autobiographical, a warm account of a Polish-Jewish girl in an immigrant family growing up before World War II, and living near Arthur Avenue and Tremont Avenue. In Jacob M. Appel's short story, "The Grand Concourse" (2007), a woman who grew up in the iconic Lewis Morris Building returns to the Morrisania neighborhood with her adult daughter. Similarly, in Avery Corman's book The Old Neighborhood (1980), an upper-middle class white protagonist returns to his birth neighborhood (Fordham Road and the Grand Concourse), and learns that even though the folks are poor, Hispanic and African-American, they are good people.
|
Who wrote 'The Grand Concourse'?
|
{
"text": [
"Jacob M. Appel"
],
"answer_start": [
451
]
}
|
57326dbc0fdd8d15006c6adb
|
The_Bronx
|
By contrast, Tom Wolfe's Bonfire of the Vanities (1987) portrays a wealthy, white protagonist, Sherman McCoy, getting lost off the Major Deegan Expressway in the South Bronx and having an altercation with locals. A substantial piece of the last part of the book is set in the resulting riotous trial at the Bronx County Courthouse. However, times change, and in 2007, the New York Times reported that "the Bronx neighborhoods near the site of Sherman's accident are now dotted with townhouses and apartments." In the same article, the Reverend Al Sharpton (whose fictional analogue in the novel is "Reverend Bacon") asserts that "twenty years later, the cynicism of The Bonfire of the Vanities is as out of style as Tom Wolfe's wardrobe."
|
Who wrote 'Bonfire of the Vanities'?
|
{
"text": [
"Tom Wolfe"
],
"answer_start": [
13
]
}
|
57326dbc0fdd8d15006c6adc
|
The_Bronx
|
By contrast, Tom Wolfe's Bonfire of the Vanities (1987) portrays a wealthy, white protagonist, Sherman McCoy, getting lost off the Major Deegan Expressway in the South Bronx and having an altercation with locals. A substantial piece of the last part of the book is set in the resulting riotous trial at the Bronx County Courthouse. However, times change, and in 2007, the New York Times reported that "the Bronx neighborhoods near the site of Sherman's accident are now dotted with townhouses and apartments." In the same article, the Reverend Al Sharpton (whose fictional analogue in the novel is "Reverend Bacon") asserts that "twenty years later, the cynicism of The Bonfire of the Vanities is as out of style as Tom Wolfe's wardrobe."
|
When was 'Bonfire of the Vanities' published?
|
{
"text": [
"1987"
],
"answer_start": [
50
]
}
|
57326dbc0fdd8d15006c6add
|
The_Bronx
|
By contrast, Tom Wolfe's Bonfire of the Vanities (1987) portrays a wealthy, white protagonist, Sherman McCoy, getting lost off the Major Deegan Expressway in the South Bronx and having an altercation with locals. A substantial piece of the last part of the book is set in the resulting riotous trial at the Bronx County Courthouse. However, times change, and in 2007, the New York Times reported that "the Bronx neighborhoods near the site of Sherman's accident are now dotted with townhouses and apartments." In the same article, the Reverend Al Sharpton (whose fictional analogue in the novel is "Reverend Bacon") asserts that "twenty years later, the cynicism of The Bonfire of the Vanities is as out of style as Tom Wolfe's wardrobe."
|
Who was the main character of 'Bonfire of the Vanities'?
|
{
"text": [
"Sherman McCoy"
],
"answer_start": [
95
]
}
|
57326dbc0fdd8d15006c6ade
|
The_Bronx
|
By contrast, Tom Wolfe's Bonfire of the Vanities (1987) portrays a wealthy, white protagonist, Sherman McCoy, getting lost off the Major Deegan Expressway in the South Bronx and having an altercation with locals. A substantial piece of the last part of the book is set in the resulting riotous trial at the Bronx County Courthouse. However, times change, and in 2007, the New York Times reported that "the Bronx neighborhoods near the site of Sherman's accident are now dotted with townhouses and apartments." In the same article, the Reverend Al Sharpton (whose fictional analogue in the novel is "Reverend Bacon") asserts that "twenty years later, the cynicism of The Bonfire of the Vanities is as out of style as Tom Wolfe's wardrobe."
|
What race was Sherman McCoy?
|
{
"text": [
"white"
],
"answer_start": [
76
]
}
|
57326dbc0fdd8d15006c6adf
|
The_Bronx
|
By contrast, Tom Wolfe's Bonfire of the Vanities (1987) portrays a wealthy, white protagonist, Sherman McCoy, getting lost off the Major Deegan Expressway in the South Bronx and having an altercation with locals. A substantial piece of the last part of the book is set in the resulting riotous trial at the Bronx County Courthouse. However, times change, and in 2007, the New York Times reported that "the Bronx neighborhoods near the site of Sherman's accident are now dotted with townhouses and apartments." In the same article, the Reverend Al Sharpton (whose fictional analogue in the novel is "Reverend Bacon") asserts that "twenty years later, the cynicism of The Bonfire of the Vanities is as out of style as Tom Wolfe's wardrobe."
|
Where did McCoy get lost?
|
{
"text": [
"off the Major Deegan Expressway in the South Bronx"
],
"answer_start": [
123
]
}
|
573257950fdd8d15006c69eb
|
Financial_crisis_of_2007%E2%80%9308
|
It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
|
What action in 2007 by national governments prevented the collapse of large financial institutions?
|
{
"text": [
"bailout of banks"
],
"answer_start": [
87
]
}
|
573257950fdd8d15006c69ec
|
Financial_crisis_of_2007%E2%80%9308
|
It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
|
How much estimated consumer wealth was lost as a result of the financial crisis of 2007?
|
{
"text": [
"trillions of U.S. dollars"
],
"answer_start": [
398
]
}
|
573257950fdd8d15006c69ed
|
Financial_crisis_of_2007%E2%80%9308
|
It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
|
What is the date the active phase of the financial crisis began as a liquidity crisis?
|
{
"text": [
"August 9, 2007"
],
"answer_start": [
649
]
}
|
573257950fdd8d15006c69ee
|
Financial_crisis_of_2007%E2%80%9308
|
It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
|
What year did the global recession that followed the financial crisis of 2007 end?
|
{
"text": [
"2012"
],
"answer_start": [
481
]
}
|
573257950fdd8d15006c69ef
|
Financial_crisis_of_2007%E2%80%9308
|
It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
|
What was the name of the company that terminated withdrawals from three hedge funds in 2007 citing a liquidity crisis?
|
{
"text": [
"BNP Paribas"
],
"answer_start": [
670
]
}
|
57325b55e17f3d14004228e5
|
Financial_crisis_of_2007%E2%80%9308
|
The bursting of the U.S. (United States) housing bubble, which peaked in 2004, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The financial crisis was triggered by a complex interplay of policies that encouraged home ownership, providing easier access to loans for subprime borrowers, overvaluation of bundled subprime mortgages based on the theory that housing prices would continue to escalate, questionable trading practices on behalf of both buyers and sellers, compensation structures that prioritize short-term deal flow over long-term value creation, and a lack of adequate capital holdings from banks and insurance companies to back the financial commitments they were making. Questions regarding bank solvency, declines in credit availability and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during 2008 and early 2009. Economies worldwide slowed during this period, as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. In the U.S., Congress passed the American Recovery and Reinvestment Act of 2009.
|
What year did the U.S. housing bubble peak?
|
{
"text": [
"2004"
],
"answer_start": [
73
]
}
|
57325b55e17f3d14004228e6
|
Financial_crisis_of_2007%E2%80%9308
|
The bursting of the U.S. (United States) housing bubble, which peaked in 2004, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The financial crisis was triggered by a complex interplay of policies that encouraged home ownership, providing easier access to loans for subprime borrowers, overvaluation of bundled subprime mortgages based on the theory that housing prices would continue to escalate, questionable trading practices on behalf of both buyers and sellers, compensation structures that prioritize short-term deal flow over long-term value creation, and a lack of adequate capital holdings from banks and insurance companies to back the financial commitments they were making. Questions regarding bank solvency, declines in credit availability and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during 2008 and early 2009. Economies worldwide slowed during this period, as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. In the U.S., Congress passed the American Recovery and Reinvestment Act of 2009.
|
What year did Congress pass the American Recover and Reinvestment Act?
|
{
"text": [
"2009"
],
"answer_start": [
1268
]
}
|
57325b55e17f3d14004228e7
|
Financial_crisis_of_2007%E2%80%9308
|
The bursting of the U.S. (United States) housing bubble, which peaked in 2004, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The financial crisis was triggered by a complex interplay of policies that encouraged home ownership, providing easier access to loans for subprime borrowers, overvaluation of bundled subprime mortgages based on the theory that housing prices would continue to escalate, questionable trading practices on behalf of both buyers and sellers, compensation structures that prioritize short-term deal flow over long-term value creation, and a lack of adequate capital holdings from banks and insurance companies to back the financial commitments they were making. Questions regarding bank solvency, declines in credit availability and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during 2008 and early 2009. Economies worldwide slowed during this period, as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. In the U.S., Congress passed the American Recovery and Reinvestment Act of 2009.
|
Overvaluation of bundled subprime mortgages was based on the theory that housing prices would continue to do this?
|
{
"text": [
"escalate"
],
"answer_start": [
459
]
}
|
57325b55e17f3d14004228e8
|
Financial_crisis_of_2007%E2%80%9308
|
The bursting of the U.S. (United States) housing bubble, which peaked in 2004, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The financial crisis was triggered by a complex interplay of policies that encouraged home ownership, providing easier access to loans for subprime borrowers, overvaluation of bundled subprime mortgages based on the theory that housing prices would continue to escalate, questionable trading practices on behalf of both buyers and sellers, compensation structures that prioritize short-term deal flow over long-term value creation, and a lack of adequate capital holdings from banks and insurance companies to back the financial commitments they were making. Questions regarding bank solvency, declines in credit availability and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during 2008 and early 2009. Economies worldwide slowed during this period, as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. In the U.S., Congress passed the American Recovery and Reinvestment Act of 2009.
|
One of the causes of the financial crisis was easier access to loans by this type borrower?
|
{
"text": [
"subprime"
],
"answer_start": [
382
]
}
|
57325b55e17f3d14004228e9
|
Financial_crisis_of_2007%E2%80%9308
|
The bursting of the U.S. (United States) housing bubble, which peaked in 2004, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The financial crisis was triggered by a complex interplay of policies that encouraged home ownership, providing easier access to loans for subprime borrowers, overvaluation of bundled subprime mortgages based on the theory that housing prices would continue to escalate, questionable trading practices on behalf of both buyers and sellers, compensation structures that prioritize short-term deal flow over long-term value creation, and a lack of adequate capital holdings from banks and insurance companies to back the financial commitments they were making. Questions regarding bank solvency, declines in credit availability and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during 2008 and early 2009. Economies worldwide slowed during this period, as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. In the U.S., Congress passed the American Recovery and Reinvestment Act of 2009.
|
In 2007, banks and insurance companies did not have adequate holdings of which type to back their financial commitments?
|
{
"text": [
"capital"
],
"answer_start": [
653
]
}
|
57325ecbe99e3014001e6728
|
Financial_crisis_of_2007%E2%80%9308
|
Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street." The Financial Crisis Inquiry Commission concluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision", "dramatic failures of corporate governance and risk management at many systemically important financial institutions", "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic", a "systemic breakdown in accountability and ethics", "collapsing mortgage-lending standards and the mortgage securitization pipeline", deregulation of over-the-counter derivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk. The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States. Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets. Research into the causes of the financial crisis has also focused on the role of interest rate spreads.
|
What is the name of the U.S. Senate report giving their conclusions for the cause of the crisis?
|
{
"text": [
"Levin–Coburn Report"
],
"answer_start": [
117
]
}
|
57325ecbe99e3014001e6729
|
Financial_crisis_of_2007%E2%80%9308
|
Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street." The Financial Crisis Inquiry Commission concluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision", "dramatic failures of corporate governance and risk management at many systemically important financial institutions", "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic", a "systemic breakdown in accountability and ethics", "collapsing mortgage-lending standards and the mortgage securitization pipeline", deregulation of over-the-counter derivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk. The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States. Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets. Research into the causes of the financial crisis has also focused on the role of interest rate spreads.
|
Which act was repealed in 1999 effectively removing the separation between investment and deposit banks?
|
{
"text": [
"Glass-Steagall Act"
],
"answer_start": [
1179
]
}
|
57325ecbe99e3014001e672a
|
Financial_crisis_of_2007%E2%80%9308
|
Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street." The Financial Crisis Inquiry Commission concluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision", "dramatic failures of corporate governance and risk management at many systemically important financial institutions", "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic", a "systemic breakdown in accountability and ethics", "collapsing mortgage-lending standards and the mortgage securitization pipeline", deregulation of over-the-counter derivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk. The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States. Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets. Research into the causes of the financial crisis has also focused on the role of interest rate spreads.
|
What is the name of the commission who concluded the financial crisis was avoidable?
|
{
"text": [
"Financial Crisis Inquiry Commission"
],
"answer_start": [
378
]
}
|
57325ecbe99e3014001e672b
|
Financial_crisis_of_2007%E2%80%9308
|
Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street." The Financial Crisis Inquiry Commission concluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision", "dramatic failures of corporate governance and risk management at many systemically important financial institutions", "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic", a "systemic breakdown in accountability and ethics", "collapsing mortgage-lending standards and the mortgage securitization pipeline", deregulation of over-the-counter derivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk. The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States. Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets. Research into the causes of the financial crisis has also focused on the role of interest rate spreads.
|
What agency failed to accurately price risk involved in mortgage-related financial products?
|
{
"text": [
"credit rating agencies"
],
"answer_start": [
1321
]
}
|
57325ecbe99e3014001e672c
|
Financial_crisis_of_2007%E2%80%9308
|
Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street." The Financial Crisis Inquiry Commission concluded that the financial crisis was avoidable and was caused by "widespread failures in financial regulation and supervision", "dramatic failures of corporate governance and risk management at many systemically important financial institutions", "a combination of excessive borrowing, risky investments, and lack of transparency" by financial institutions, ill preparation and inconsistent action by government that "added to the uncertainty and panic", a "systemic breakdown in accountability and ethics", "collapsing mortgage-lending standards and the mortgage securitization pipeline", deregulation of over-the-counter derivatives, especially credit default swaps, and "the failures of credit rating agencies" to correctly price risk. The 1999 repeal of the Glass-Steagall Act effectively removed the separation between investment banks and depository banks in the United States. Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets. Research into the causes of the financial crisis has also focused on the role of interest rate spreads.
|
What practices should have been adjusted by governments to address 21st-century financial markets?
|
{
"text": [
"regulatory"
],
"answer_start": [
1487
]
}
|
573260db0fdd8d15006c6a65
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
What are MBS as related to the housing and credit booms?
|
{
"text": [
"mortgage-backed securities"
],
"answer_start": [
83
]
}
|
573260db0fdd8d15006c6a66
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
What are CDO as related to the housing and credit booms?
|
{
"text": [
"collateralized debt obligations"
],
"answer_start": [
120
]
}
|
573260db0fdd8d15006c6a67
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
When housing prices declined, who reported significant losses from being heavily invested in subprime MBS?
|
{
"text": [
"major global financial institutions"
],
"answer_start": [
391
]
}
|
573260db0fdd8d15006c6a68
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
Who could invest in the U.S. housing market through MBS and CDO?
|
{
"text": [
"institutions and investors around the world"
],
"answer_start": [
281
]
}
|
573260db0fdd8d15006c6a69
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
MBS and CDO derive their value from?
|
{
"text": [
"mortgage payments and housing prices"
],
"answer_start": [
190
]
}
|
573263d4b9d445190005eadb
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
What year did the foreclosure epidemic begin?
|
{
"text": [
"late 2006"
],
"answer_start": [
174
]
}
|
573263d4b9d445190005eadc
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
How much are total losses estimated to be from falling home prices?
|
{
"text": [
"trillions of U.S. dollars"
],
"answer_start": [
477
]
}
|
573263d4b9d445190005eadd
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
What is the financial incentive when a home is worth less than the mortgage loan?
|
{
"text": [
"foreclosure"
],
"answer_start": [
114
]
}
|
573263d4b9d445190005eade
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
What other financial instruments had significant defaults and losses as a result of the crisis expanding from housing to other parts of the economy?
|
{
"text": [
"other loan types"
],
"answer_start": [
319
]
}
|
573263d4b9d445190005eadf
|
Financial_crisis_of_2007%E2%80%9308
|
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.
|
What continues to drain consumer wealth and erode the strength of banks?
|
{
"text": [
"foreclosure epidemic"
],
"answer_start": [
139
]
}
|
57329eb1cc179a14009dab72
|
Financial_crisis_of_2007%E2%80%9308
|
While the housing and credit bubbles were building, a series of factors caused the financial system to both expand and become increasingly fragile, a process called financialization. U.S. Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. Some experts believe these institutions had become as important as commercial (depository) banks in providing credit to the U.S. economy, but they were not subject to the same regulations.
|
What institutions comprise the shadow banking system?
|
{
"text": [
"investment banks and hedge funds"
],
"answer_start": [
567
]
}
|
57329eb1cc179a14009dab73
|
Financial_crisis_of_2007%E2%80%9308
|
While the housing and credit bubbles were building, a series of factors caused the financial system to both expand and become increasingly fragile, a process called financialization. U.S. Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. Some experts believe these institutions had become as important as commercial (depository) banks in providing credit to the U.S. economy, but they were not subject to the same regulations.
|
What institutions are not subject to the same regulations as commercial banks?
|
{
"text": [
"investment banks and hedge funds"
],
"answer_start": [
567
]
}
|
57329eb1cc179a14009dab74
|
Financial_crisis_of_2007%E2%80%9308
|
While the housing and credit bubbles were building, a series of factors caused the financial system to both expand and become increasingly fragile, a process called financialization. U.S. Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. Some experts believe these institutions had become as important as commercial (depository) banks in providing credit to the U.S. economy, but they were not subject to the same regulations.
|
What process caused the financial system to both expand and become fragile?
|
{
"text": [
"financialization"
],
"answer_start": [
165
]
}
|
57329eb1cc179a14009dab75
|
Financial_crisis_of_2007%E2%80%9308
|
While the housing and credit bubbles were building, a series of factors caused the financial system to both expand and become increasingly fragile, a process called financialization. U.S. Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. Some experts believe these institutions had become as important as commercial (depository) banks in providing credit to the U.S. economy, but they were not subject to the same regulations.
|
What policy has U.S. Government emphasized from the 1970's onward?
|
{
"text": [
"deregulation"
],
"answer_start": [
243
]
}
|
57329eb1cc179a14009dab76
|
Financial_crisis_of_2007%E2%80%9308
|
While the housing and credit bubbles were building, a series of factors caused the financial system to both expand and become increasingly fragile, a process called financialization. U.S. Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. Some experts believe these institutions had become as important as commercial (depository) banks in providing credit to the U.S. economy, but they were not subject to the same regulations.
|
Since the 1970's, what has emphasized deregulation to encourage business, but resulted in less oversight and less disclosure?
|
{
"text": [
"U.S. Government policy"
],
"answer_start": [
183
]
}
|
5732a8641d5d2e14009ff885
|
Financial_crisis_of_2007%E2%80%9308
|
These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. Concerns regarding the stability of key financial institutions drove central banks to provide funds to encourage lending and restore faith in the commercial paper markets, which are integral to funding business operations. Governments also bailed out key financial institutions and implemented economic stimulus programs, assuming significant additional financial commitments.
|
Some regulated banks did not have sufficient financial cushions in place to absorb what losses as a result of the financial crisis of 2007?
|
{
"text": [
"MBS"
],
"answer_start": [
221
]
}
|
5732a8641d5d2e14009ff886
|
Financial_crisis_of_2007%E2%80%9308
|
These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. Concerns regarding the stability of key financial institutions drove central banks to provide funds to encourage lending and restore faith in the commercial paper markets, which are integral to funding business operations. Governments also bailed out key financial institutions and implemented economic stimulus programs, assuming significant additional financial commitments.
|
What was a consequence of the large loan defaults and MBS losses in 2007?
|
{
"text": [
"slowing economic activity"
],
"answer_start": [
302
]
}
|
5732a8641d5d2e14009ff887
|
Financial_crisis_of_2007%E2%80%9308
|
These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. Concerns regarding the stability of key financial institutions drove central banks to provide funds to encourage lending and restore faith in the commercial paper markets, which are integral to funding business operations. Governments also bailed out key financial institutions and implemented economic stimulus programs, assuming significant additional financial commitments.
|
Who provided funds to encourage lending and restore faith in commercial banks in the aftermath of the financial crisis of 2007?
|
{
"text": [
"central banks"
],
"answer_start": [
398
]
}
|
5732a8641d5d2e14009ff888
|
Financial_crisis_of_2007%E2%80%9308
|
These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. Concerns regarding the stability of key financial institutions drove central banks to provide funds to encourage lending and restore faith in the commercial paper markets, which are integral to funding business operations. Governments also bailed out key financial institutions and implemented economic stimulus programs, assuming significant additional financial commitments.
|
Who bailed out key financial institutions and implemented economic stimulus programs as an answer to the financial crisis of 2007?
|
{
"text": [
"Governments"
],
"answer_start": [
552
]
}
|
5732a8641d5d2e14009ff889
|
Financial_crisis_of_2007%E2%80%9308
|
These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. Concerns regarding the stability of key financial institutions drove central banks to provide funds to encourage lending and restore faith in the commercial paper markets, which are integral to funding business operations. Governments also bailed out key financial institutions and implemented economic stimulus programs, assuming significant additional financial commitments.
|
What impacted the ability of financial institutions to lend in the financial crisis of 2007?
|
{
"text": [
"large loan defaults or MBS losses"
],
"answer_start": [
198
]
}
|
5732aa5bcc179a14009dabdc
|
Financial_crisis_of_2007%E2%80%9308
|
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".
|
When did the U.S. Financial Crisis Inquiry Commission report its findings?
|
{
"text": [
"January 2011"
],
"answer_start": [
70
]
}
|
5732aa5bcc179a14009dabdd
|
Financial_crisis_of_2007%E2%80%9308
|
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".
|
What was one of the conclusions of the U.S. Financial Crisis Inquiry Commission regarding the financial crisis of 2007?
|
{
"text": [
"the crisis was avoidable and was caused by: widespread failures in financial regulation"
],
"answer_start": [
103
]
}
|
5732aa5bcc179a14009dabde
|
Financial_crisis_of_2007%E2%80%9308
|
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".
|
What agency failed to stem the tide of toxic mortgages contributing to the financial crisis of 2007?
|
{
"text": [
"Federal Reserve"
],
"answer_start": [
206
]
}
|
5732aa5bcc179a14009dabdf
|
Financial_crisis_of_2007%E2%80%9308
|
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".
|
Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system?
|
{
"text": [
"key policy makers"
],
"answer_start": [
539
]
}
|
5732aa5bcc179a14009dabe0
|
Financial_crisis_of_2007%E2%80%9308
|
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".
|
Which business sector contributed to the financial crisis by acting recklessly and taking on too much risk?
|
{
"text": [
"financial firms"
],
"answer_start": [
332
]
}
|
5732ac07328d981900601ffd
|
Financial_crisis_of_2007%E2%80%9308
|
During a period of tough competition between mortgage lenders for revenue and market share, and when the supply of creditworthy borrowers was limited, mortgage lenders relaxed underwriting standards and originated riskier mortgages to less creditworthy borrowers. In the view of some analysts, the relatively conservative government-sponsored enterprises (GSEs) policed mortgage originators and maintained relatively high underwriting standards prior to 2003. However, as market power shifted from securitizers to originators and as intense competition from private securitizers undermined GSE power, mortgage standards declined and risky loans proliferated. The worst loans were originated in 2004–2007, the years of the most intense competition between securitizers and the lowest market share for the GSEs.
|
What caused mortgage lenders to relax underwriting standards and approve riskier mortgages?
|
{
"text": [
"tough competition"
],
"answer_start": [
19
]
}
|
5732ac07328d981900601ffe
|
Financial_crisis_of_2007%E2%80%9308
|
During a period of tough competition between mortgage lenders for revenue and market share, and when the supply of creditworthy borrowers was limited, mortgage lenders relaxed underwriting standards and originated riskier mortgages to less creditworthy borrowers. In the view of some analysts, the relatively conservative government-sponsored enterprises (GSEs) policed mortgage originators and maintained relatively high underwriting standards prior to 2003. However, as market power shifted from securitizers to originators and as intense competition from private securitizers undermined GSE power, mortgage standards declined and risky loans proliferated. The worst loans were originated in 2004–2007, the years of the most intense competition between securitizers and the lowest market share for the GSEs.
|
In what year were high underwriting standards relaxed?
|
{
"text": [
"2003"
],
"answer_start": [
454
]
}
|
5732ac07328d981900601fff
|
Financial_crisis_of_2007%E2%80%9308
|
During a period of tough competition between mortgage lenders for revenue and market share, and when the supply of creditworthy borrowers was limited, mortgage lenders relaxed underwriting standards and originated riskier mortgages to less creditworthy borrowers. In the view of some analysts, the relatively conservative government-sponsored enterprises (GSEs) policed mortgage originators and maintained relatively high underwriting standards prior to 2003. However, as market power shifted from securitizers to originators and as intense competition from private securitizers undermined GSE power, mortgage standards declined and risky loans proliferated. The worst loans were originated in 2004–2007, the years of the most intense competition between securitizers and the lowest market share for the GSEs.
|
What years were the worst mortgage loans originated?
|
{
"text": [
"2004–2007"
],
"answer_start": [
694
]
}
|
5732ac07328d981900602000
|
Financial_crisis_of_2007%E2%80%9308
|
During a period of tough competition between mortgage lenders for revenue and market share, and when the supply of creditworthy borrowers was limited, mortgage lenders relaxed underwriting standards and originated riskier mortgages to less creditworthy borrowers. In the view of some analysts, the relatively conservative government-sponsored enterprises (GSEs) policed mortgage originators and maintained relatively high underwriting standards prior to 2003. However, as market power shifted from securitizers to originators and as intense competition from private securitizers undermined GSE power, mortgage standards declined and risky loans proliferated. The worst loans were originated in 2004–2007, the years of the most intense competition between securitizers and the lowest market share for the GSEs.
|
What years had the most intense competition between securitizers and the lowest market share for GSEs?
|
{
"text": [
"2004–2007"
],
"answer_start": [
694
]
}
|
5732ac07328d981900602001
|
Financial_crisis_of_2007%E2%80%9308
|
During a period of tough competition between mortgage lenders for revenue and market share, and when the supply of creditworthy borrowers was limited, mortgage lenders relaxed underwriting standards and originated riskier mortgages to less creditworthy borrowers. In the view of some analysts, the relatively conservative government-sponsored enterprises (GSEs) policed mortgage originators and maintained relatively high underwriting standards prior to 2003. However, as market power shifted from securitizers to originators and as intense competition from private securitizers undermined GSE power, mortgage standards declined and risky loans proliferated. The worst loans were originated in 2004–2007, the years of the most intense competition between securitizers and the lowest market share for the GSEs.
|
Who policed mortgage originators and maintained relatively high standards prior to 2003?
|
{
"text": [
"government-sponsored enterprises (GSEs)"
],
"answer_start": [
322
]
}
|
5732add9cc179a14009dabf0
|
Financial_crisis_of_2007%E2%80%9308
|
The majority report of the Financial Crisis Inquiry Commission, written by the six Democratic appointees, the minority report, written by 3 of the 4 Republican appointees, studies by Federal Reserve economists, and the work of several independent scholars generally contend that government affordable housing policy was not the primary cause of the financial crisis. Although they concede that governmental policies had some role in causing the crisis, they contend that GSE loans performed better than loans securitized by private investment banks, and performed better than some loans originated by institutions that held loans in their own portfolios. Paul Krugman has even claimed that the GSE never purchased subprime loans – a claim that is widely disputed.
|
How many Democratic appointees wrote the majority report of the Financial Crisis Inquiry Commission?
|
{
"text": [
"six"
],
"answer_start": [
79
]
}
|
5732add9cc179a14009dabf1
|
Financial_crisis_of_2007%E2%80%9308
|
The majority report of the Financial Crisis Inquiry Commission, written by the six Democratic appointees, the minority report, written by 3 of the 4 Republican appointees, studies by Federal Reserve economists, and the work of several independent scholars generally contend that government affordable housing policy was not the primary cause of the financial crisis. Although they concede that governmental policies had some role in causing the crisis, they contend that GSE loans performed better than loans securitized by private investment banks, and performed better than some loans originated by institutions that held loans in their own portfolios. Paul Krugman has even claimed that the GSE never purchased subprime loans – a claim that is widely disputed.
|
Who claimed that the GSE never purchased subprime loans - a claim that is widely disputed?
|
{
"text": [
"Paul Krugman"
],
"answer_start": [
655
]
}
|
5732add9cc179a14009dabf2
|
Financial_crisis_of_2007%E2%80%9308
|
The majority report of the Financial Crisis Inquiry Commission, written by the six Democratic appointees, the minority report, written by 3 of the 4 Republican appointees, studies by Federal Reserve economists, and the work of several independent scholars generally contend that government affordable housing policy was not the primary cause of the financial crisis. Although they concede that governmental policies had some role in causing the crisis, they contend that GSE loans performed better than loans securitized by private investment banks, and performed better than some loans originated by institutions that held loans in their own portfolios. Paul Krugman has even claimed that the GSE never purchased subprime loans – a claim that is widely disputed.
|
Several reports written by various agencies concluded that which policy was not the primary cause of the financial crisis?
|
{
"text": [
"government affordable housing policy"
],
"answer_start": [
279
]
}
|
5732add9cc179a14009dabf3
|
Financial_crisis_of_2007%E2%80%9308
|
The majority report of the Financial Crisis Inquiry Commission, written by the six Democratic appointees, the minority report, written by 3 of the 4 Republican appointees, studies by Federal Reserve economists, and the work of several independent scholars generally contend that government affordable housing policy was not the primary cause of the financial crisis. Although they concede that governmental policies had some role in causing the crisis, they contend that GSE loans performed better than loans securitized by private investment banks, and performed better than some loans originated by institutions that held loans in their own portfolios. Paul Krugman has even claimed that the GSE never purchased subprime loans – a claim that is widely disputed.
|
How many Republican appointees wrote the minority report of the Financial Crisis Inquiry Commission?
|
{
"text": [
"4"
],
"answer_start": [
147
]
}
|
5732add9cc179a14009dabf4
|
Financial_crisis_of_2007%E2%80%9308
|
The majority report of the Financial Crisis Inquiry Commission, written by the six Democratic appointees, the minority report, written by 3 of the 4 Republican appointees, studies by Federal Reserve economists, and the work of several independent scholars generally contend that government affordable housing policy was not the primary cause of the financial crisis. Although they concede that governmental policies had some role in causing the crisis, they contend that GSE loans performed better than loans securitized by private investment banks, and performed better than some loans originated by institutions that held loans in their own portfolios. Paul Krugman has even claimed that the GSE never purchased subprime loans – a claim that is widely disputed.
|
According to reports, which loans performed better than some loans securitized by private investment banks?
|
{
"text": [
"GSE loans"
],
"answer_start": [
471
]
}
|
5732afd2328d981900602007
|
Financial_crisis_of_2007%E2%80%9308
|
In his dissent to the majority report of the Financial Crisis Inquiry Commission, American Enterprise Institute fellow Peter J. Wallison stated his belief that the roots of the financial crisis can be traced directly and primarily to affordable housing policies initiated by HUD in the 1990s and to massive risky loan purchases by government-sponsored entities Fannie Mae and Freddie Mac. Later, based upon information in the SEC's December 2011 securities fraud case against 6 ex-executives of Fannie and Freddie, Peter Wallison and Edward Pinto estimated that, in 2008, Fannie and Freddie held 13 million substandard loans totaling over $2 trillion.
|
Which government-sponsored entities had massive risky loan purchases?
|
{
"text": [
"Fannie Mae and Freddie Mac"
],
"answer_start": [
361
]
}
|
5732afd2328d981900602008
|
Financial_crisis_of_2007%E2%80%9308
|
In his dissent to the majority report of the Financial Crisis Inquiry Commission, American Enterprise Institute fellow Peter J. Wallison stated his belief that the roots of the financial crisis can be traced directly and primarily to affordable housing policies initiated by HUD in the 1990s and to massive risky loan purchases by government-sponsored entities Fannie Mae and Freddie Mac. Later, based upon information in the SEC's December 2011 securities fraud case against 6 ex-executives of Fannie and Freddie, Peter Wallison and Edward Pinto estimated that, in 2008, Fannie and Freddie held 13 million substandard loans totaling over $2 trillion.
|
How many estimated substandard loans did Fannie and Freddie have in 2008?
|
{
"text": [
"13 million"
],
"answer_start": [
596
]
}
|
5732afd2328d981900602009
|
Financial_crisis_of_2007%E2%80%9308
|
In his dissent to the majority report of the Financial Crisis Inquiry Commission, American Enterprise Institute fellow Peter J. Wallison stated his belief that the roots of the financial crisis can be traced directly and primarily to affordable housing policies initiated by HUD in the 1990s and to massive risky loan purchases by government-sponsored entities Fannie Mae and Freddie Mac. Later, based upon information in the SEC's December 2011 securities fraud case against 6 ex-executives of Fannie and Freddie, Peter Wallison and Edward Pinto estimated that, in 2008, Fannie and Freddie held 13 million substandard loans totaling over $2 trillion.
|
What was the value of the estimated 13 million substandard loans held by Fannie and Freddie in 2008?
|
{
"text": [
"over $2 trillion"
],
"answer_start": [
634
]
}
|
5732afd2328d98190060200a
|
Financial_crisis_of_2007%E2%80%9308
|
In his dissent to the majority report of the Financial Crisis Inquiry Commission, American Enterprise Institute fellow Peter J. Wallison stated his belief that the roots of the financial crisis can be traced directly and primarily to affordable housing policies initiated by HUD in the 1990s and to massive risky loan purchases by government-sponsored entities Fannie Mae and Freddie Mac. Later, based upon information in the SEC's December 2011 securities fraud case against 6 ex-executives of Fannie and Freddie, Peter Wallison and Edward Pinto estimated that, in 2008, Fannie and Freddie held 13 million substandard loans totaling over $2 trillion.
|
How many ex-executives of Fannie and Freddie were named in the SEC's December 2011 securities fraud case?
|
{
"text": [
"6"
],
"answer_start": [
476
]
}
|
5732afd2328d98190060200b
|
Financial_crisis_of_2007%E2%80%9308
|
In his dissent to the majority report of the Financial Crisis Inquiry Commission, American Enterprise Institute fellow Peter J. Wallison stated his belief that the roots of the financial crisis can be traced directly and primarily to affordable housing policies initiated by HUD in the 1990s and to massive risky loan purchases by government-sponsored entities Fannie Mae and Freddie Mac. Later, based upon information in the SEC's December 2011 securities fraud case against 6 ex-executives of Fannie and Freddie, Peter Wallison and Edward Pinto estimated that, in 2008, Fannie and Freddie held 13 million substandard loans totaling over $2 trillion.
|
Peter J. Wallison believes that the one of the roots of the financial crisis can be traced to affordable housing policies by which agency in the 1990s?
|
{
"text": [
"HUD"
],
"answer_start": [
275
]
}
|
5732b191d6dcfa19001e8a7c
|
Financial_crisis_of_2007%E2%80%9308
|
In the early and mid-2000s, the Bush administration called numerous times for investigation into the safety and soundness of the GSEs and their swelling portfolio of subprime mortgages. On September 10, 2003, the House Financial Services Committee held a hearing at the urging of the administration to assess safety and soundness issues and to review a recent report by the Office of Federal Housing Enterprise Oversight (OFHEO) that had uncovered accounting discrepancies within the two entities. The hearings never resulted in new legislation or formal investigation of Fannie Mae and Freddie Mac, as many of the committee members refused to accept the report and instead rebuked OFHEO for their attempt at regulation. Some believe this was an early warning to the systemic risk that the growing market in subprime mortgages posed to the U.S. financial system that went unheeded.
|
Which administration called for investigation into the soundness of GSEs in the early and mid-2000s?
|
{
"text": [
"Bush administration"
],
"answer_start": [
32
]
}
|
5732b191d6dcfa19001e8a7d
|
Financial_crisis_of_2007%E2%80%9308
|
In the early and mid-2000s, the Bush administration called numerous times for investigation into the safety and soundness of the GSEs and their swelling portfolio of subprime mortgages. On September 10, 2003, the House Financial Services Committee held a hearing at the urging of the administration to assess safety and soundness issues and to review a recent report by the Office of Federal Housing Enterprise Oversight (OFHEO) that had uncovered accounting discrepancies within the two entities. The hearings never resulted in new legislation or formal investigation of Fannie Mae and Freddie Mac, as many of the committee members refused to accept the report and instead rebuked OFHEO for their attempt at regulation. Some believe this was an early warning to the systemic risk that the growing market in subprime mortgages posed to the U.S. financial system that went unheeded.
|
Who uncovered accounting discrepancies in Fannie Mae and Freddie Mac?
|
{
"text": [
"Office of Federal Housing Enterprise Oversight (OFHEO)"
],
"answer_start": [
374
]
}
|
5732b191d6dcfa19001e8a7e
|
Financial_crisis_of_2007%E2%80%9308
|
In the early and mid-2000s, the Bush administration called numerous times for investigation into the safety and soundness of the GSEs and their swelling portfolio of subprime mortgages. On September 10, 2003, the House Financial Services Committee held a hearing at the urging of the administration to assess safety and soundness issues and to review a recent report by the Office of Federal Housing Enterprise Oversight (OFHEO) that had uncovered accounting discrepancies within the two entities. The hearings never resulted in new legislation or formal investigation of Fannie Mae and Freddie Mac, as many of the committee members refused to accept the report and instead rebuked OFHEO for their attempt at regulation. Some believe this was an early warning to the systemic risk that the growing market in subprime mortgages posed to the U.S. financial system that went unheeded.
|
On what date did the House Financial Services Committee hold a hearing to assess safety and soundness issues regarding Fannie Mae and Freddie Mac?
|
{
"text": [
"September 10, 2003"
],
"answer_start": [
189
]
}
|
5732b191d6dcfa19001e8a7f
|
Financial_crisis_of_2007%E2%80%9308
|
In the early and mid-2000s, the Bush administration called numerous times for investigation into the safety and soundness of the GSEs and their swelling portfolio of subprime mortgages. On September 10, 2003, the House Financial Services Committee held a hearing at the urging of the administration to assess safety and soundness issues and to review a recent report by the Office of Federal Housing Enterprise Oversight (OFHEO) that had uncovered accounting discrepancies within the two entities. The hearings never resulted in new legislation or formal investigation of Fannie Mae and Freddie Mac, as many of the committee members refused to accept the report and instead rebuked OFHEO for their attempt at regulation. Some believe this was an early warning to the systemic risk that the growing market in subprime mortgages posed to the U.S. financial system that went unheeded.
|
What was the result of the House Financial Services Committee on September 10, 2003 regarding Fannie Mae and Freddie Mac?
|
{
"text": [
"The hearings never resulted in new legislation or formal investigation"
],
"answer_start": [
498
]
}
|
5732b191d6dcfa19001e8a80
|
Financial_crisis_of_2007%E2%80%9308
|
In the early and mid-2000s, the Bush administration called numerous times for investigation into the safety and soundness of the GSEs and their swelling portfolio of subprime mortgages. On September 10, 2003, the House Financial Services Committee held a hearing at the urging of the administration to assess safety and soundness issues and to review a recent report by the Office of Federal Housing Enterprise Oversight (OFHEO) that had uncovered accounting discrepancies within the two entities. The hearings never resulted in new legislation or formal investigation of Fannie Mae and Freddie Mac, as many of the committee members refused to accept the report and instead rebuked OFHEO for their attempt at regulation. Some believe this was an early warning to the systemic risk that the growing market in subprime mortgages posed to the U.S. financial system that went unheeded.
|
Who rebuked OFHEO in 2003 for their attempt at regulation of Fannie Mae and Freddie Mac?
|
{
"text": [
"House Financial Services Committee"
],
"answer_start": [
213
]
}
|
5732b3a5328d981900602017
|
Financial_crisis_of_2007%E2%80%9308
|
A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
|
What was the value of mortgage lending made by Community Reinvestment Act covered lenders to low and mid level income borrowers and neighborhoods from 1993-1998?
|
{
"text": [
"$467 billion"
],
"answer_start": [
117
]
}
|
5732b3a5328d981900602018
|
Financial_crisis_of_2007%E2%80%9308
|
A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
|
What percent of mortgage lending was made by Community Reinvestment Act covered lenders from 1993 to 1998?
|
{
"text": [
"10%"
],
"answer_start": [
289
]
}
|
5732b3a5328d981900602019
|
Financial_crisis_of_2007%E2%80%9308
|
A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
|
What does CRA stand for?
|
{
"text": [
"Community Reinvestment Act"
],
"answer_start": [
162
]
}
|
5732b3a5328d98190060201a
|
Financial_crisis_of_2007%E2%80%9308
|
A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
|
What percent of sub-prime lending occurred at CRA-covered institutions in the run-up to the financial crisis?
|
{
"text": [
"25%"
],
"answer_start": [
521
]
}
|
5732b3a5328d98190060201b
|
Financial_crisis_of_2007%E2%80%9308
|
A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
|
What percent of sub-prime loans had some connection with CRA in the run-up to the financial crisis?
|
{
"text": [
"25%"
],
"answer_start": [
599
]
}
|
5732b589cc179a14009dac1e
|
Financial_crisis_of_2007%E2%80%9308
|
To other analysts the delay between CRA rule changes (in 1995) and the explosion of subprime lending is not surprising, and does not exonerate the CRA. They contend that there were two, connected causes to the crisis: the relaxation of underwriting standards in 1995 and the ultra-low interest rates initiated by the Federal Reserve after the terrorist attack on September 11, 2001. Both causes had to be in place before the crisis could take place. Critics also point out that publicly announced CRA loan commitments were massive, totaling $4.5 trillion in the years between 1994 and 2007. They also argue that the Federal Reserve’s classification of CRA loans as “prime” is based on the faulty and self-serving assumption that high-interest-rate loans (3 percentage points over average) equal “subprime” loans.
|
When did CRA make rule changes to relax underwriting standards?
|
{
"text": [
"1995"
],
"answer_start": [
262
]
}
|
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