Article: For a variety of reasons, market participants did not accurately measure the risk inherent with financial innovation such as MBS and CDOs or understand its impact on the overall stability of the financial system. For example, the pricing model for CDOs clearly did not reflect the level of risk they introduced into the system. Banks estimated that $450bn of CDO were sold between "late 2005 to the middle of 2007"; among the $102bn of those that had been liquidated, JPMorgan estimated that the average recovery rate for "high quality" CDOs was approximately 32 cents on the dollar, while the recovery rate for mezzanine CDO was approximately five cents for every dollar.

Question: What are the reasons market participants did not understand the impact financial innovation products would have?
Ans: a variety of reasons


Article: Despite their descent from wolves and classification as Carnivora, dogs are variously described in scholarly and other writings as carnivores or omnivores. Unlike obligate carnivores, such as the cat family with its shorter small intestine, dogs can adapt to a wide-ranging diet, and are not dependent on meat-specific protein nor a very high level of protein in order to fulfill their basic dietary requirements. Dogs will healthily digest a variety of foods, including vegetables and grains, and can consume a large proportion of these in their diet. Comparing dogs and wolves, dogs have adaptations in genes involved in starch digestion that contribute to an increased ability to thrive on a starch-rich diet.

Question: Dogs can digest meat as well as what else?
Ans: vegetables and grains


Article: In the year 743 the synod in Leptines (Leptines is located near Binche in Belgium) spoke out furiously against the excesses in the month of February. Also from the same period dates the phrase: "Whoever in February by a variety of less honorable acts tries to drive out winter is not a Christian, but a pagan." Confession books from around 800 contain more information about how people would dress as an animal or old woman during the festivities in January and February, even though this was a sin with no small penance. Also in Spain, San Isidoro de Sevilla is written complaint in the seventh century that people coming out into the streets disguised in many cases the opposite gender.

Question: What type of books from around 800 contain more information of people's traditions during this period?
Ans: Confession


Article: Seattle is home to the University of Washington, as well as the institution's professional and continuing education unit, the University of Washington Educational Outreach. A study by Newsweek International in 2006 cited the University of Washington as the twenty-second best university in the world. Seattle also has a number of smaller private universities including Seattle University and Seattle Pacific University, the former a Jesuit Catholic institution, the latter Free Methodist; universities aimed at the working adult, like City University and Antioch University; colleges within the Seattle Colleges District system, comprising North, Central, and South; seminaries, including Western Seminary and a number of arts colleges, such as Cornish College of the Arts, Pratt Fine Arts Center, and The Art Institute of Seattle. In 2001, Time magazine selected Seattle Central Community College as community college of the year, stating the school "pushes diverse students to work together in small teams".

Question: Beside the public universities, what other type of institutions provide education in Seattle?
Ans:
private universities