Economist Mark Zandi testified to the Financial Crisis Inquiry Commission in January 2010: "The securitization markets also remain impaired, as investors anticipate more loan losses. Investors are also uncertain about coming legal and accounting rule changes and regulatory reforms. Private bond issuance of residential and commercial mortgage-backed securities, asset-backed securities, and CDOs peaked in 2006 at close to $2 trillion...In 2009, private issuance was less than $150 billion, and almost all of it was asset-backed issuance supported by the Federal Reserve's TALF program to aid credit card, auto and small-business lenders. Issuance of residential and commercial mortgage-backed securities and CDOs remains dormant." COUNT 5
QSN1 What economist testified to the Financial Crisis Inquiry Commission in January 2010? ANS1 Mark Zandi QSN2 In January 2010, what markets did Mark Zandi testify about that remain impaired and investors anticipate more loan losses? ANS2 securitization markets QSN3 What was the value of CDOs at their peak in 2006? ANS3 close to $2 trillion QSN4 What was the private issuance of CDOs in 2009? ANS4 less than $150 billion QSN5 Almost all of the asset-backed issuance in 2009 was supported by what Federal Reserve program? ANS5 TALF