Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History Test | Mid-Book Test - Easy

Matt Taibbi
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Where did Alan Greenspan study clarinet from 1943 to 1944?
(a) The Juilliard School.
(b) Harvard University.
(c) Boston College.
(d) New York University.

2. In what year was Sarah Palin a candidate for Vice President of the United States?
(a) 2005.
(b) 2004.
(c) 2008.
(d) 2002.

3. Alan Greenspan recommended the Reagan era increase in Social Security tax, and the rate went from 9.35% to ___________.
(a) 20.1%.
(b) 12.5%.
(c) 13.9%.
(d) 15.3%.

4. Before declaring bankruptcy, Lehman Brothers Holdings Inc. was ranked as the _________ largest investment bank in the United States.
(a) First.
(b) Second.
(c) Third.
(d) Fourth.

5. Of what political party was Ronald Reagan a member?
(a) Democrat.
(b) Green Party.
(c) Republican.
(d) Tea Party.

6. In 2002, less than how much worth of subprime loans was approved?
(a) $1 billion.
(b) $100 billion.
(c) $300 million.
(d) $200 billion.

7. In what year did Alan Greenspan earn his M.A. degree in economics?
(a) 1965.
(b) 1954.
(c) 1970.
(d) 1950.

8. Eljon Williams contacted what firm to help him get a home loan with a fixed mortgage?
(a) Solomon Edwards.
(b) Goldman-Sachs.
(c) Merrill Lynch.
(d) Wachovia.

9. What are created when banks split their mortgage loan payments into three levels and sell them in separate packages?
(a) Incidentals.
(b) Collectives.
(c) Derivatives.
(d) Tranch blocks.

10. When did Lehman Brothers declare bankruptcy?
(a) November, 2007.
(b) September, 2008.
(c) September 2009.
(d) October, 2008.

11. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?
(a) $100.
(b) $300.
(c) $200.
(d) $500.

12. The fundamental belief of what philosophy is that self-interest is a normal human state and interventionism by the government is unnatural and evil?
(a) Absurdism.
(b) Subjectivism.
(c) Objectivism.
(d) Pluralism.

13. What refers to trade in high volumes at prices that are considerably at variance with intrinsic values?
(a) Bubble economy.
(b) Capitalism.
(c) Free-market economics.
(d) Socialism.

14. When was Ronald Reagan born?
(a) 1930.
(b) 1919.
(c) 1925.
(d) 1911.

15. Alongside what Presidential nominee did Sarah Palin run as Vice President of the United States?
(a) Barack Obama.
(b) John McCain.
(c) Hillary Clinton.
(d) George W. Bush.

Short Answer Questions

1. Richard Nixon was President of the United States during what years?

2. Who appointed Alan Greenspan as the Federal Reserve chairman?

3. In finance, what occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan increases?

4. Where did Matt Taibbi hear Sarah Palin's acceptance speech in Chapter 1?

5. The Bear Stearns Companies, Inc. was based in what US city?

(see the answer keys)

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