|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. According to the author, the Tea Party distracts its followers from the real villains of Wall Street by convincing itself that what is the enemy?
(a) Free-market economics.
(b) Alan Greenspan.
(d) Big government.
2. From 1948 to 1953, Alan Greenspan worked as an economic analyst at what business and industry oriented think-tank in New York City?
(a) The Federal Reserve.
(b) The Democratic Board of Industry.
(c) The Republican Commission for Wealth.
(d) The National Industrial Conference Board.
3. Who appointed Alan Greenspan as the Federal Reserve chairman?
(a) George W. Bush.
(b) Bill Clinton.
(c) George H. Bush.
(d) Ronald Reagan.
4. In 2002, less than how much worth of subprime loans was approved?
(a) $200 billion.
(b) $300 million.
(c) $100 billion.
(d) $1 billion.
5. What do T-Bills refer to?
(a) Tendered bills.
(b) Tranche bills.
(c) Trade bills.
(d) Treasury bills.
Short Answer Questions
1. What refers to the part of the capital markets that deals with the issuance of new securities?
2. In what year did Alan Greenspan tell Congress that the risk involved in derivatives was "negligible"?
3. What refers to a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation?
4. Where was Ayn Rand born?
5. When was Ronald Reagan born?
Short Essay Questions
1. Describe Alan Greenspan's childhood and education. Where did Greenspan study economics?
2. What does Taibbi assert to be the fundamental problem the the Tea Party's approach?
3. How does the Tea Party mislead its followers from the true enemy, according to the author?
4. What did Eljon Williams learn about the commission involved in his mortgage?
5. Who was Joe Cassano? What authority did he achieve?
6. What does Taibbi write of his thoughts on Sarah Palin in Chapter 1?
7. What process did banks undertake in order to sells risky loans, as described in Chapter 3?
8. How does Taibbi believe Sarah Palin took Nixon's campaign strategy further?
9. How did Matt Taibbi feel about the Presidential campaign in Chapter 1? What events were unforeseen at this point in history?
10. What is the fundamental belief of objectivism, as described in Chapter 2?
This section contains 880 words
(approx. 3 pages at 300 words per page)