|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. According to the author, what philosophy translates to "My facts are facts and your facts are not facts"?
2. The fundamental belief of what philosophy is that self-interest is a normal human state and interventionism by the government is unnatural and evil?
3. Where are the headquarters of Deutsche Bank?
4. When did Lehman Brothers declare bankruptcy?
5. Before declaring bankruptcy, Lehman Brothers Holdings Inc. was ranked as the _________ largest investment bank in the United States.
Short Essay Questions
1. Who was Eljon Williams and how did he become involved in a mortgage scam as described in Chapter 3?
2. What impact did Alan Greenspan have on the Federal Reserve during his years in power?
3. How did the market for subprime loans change between 2002 and 2005?
4. Describe Alan Greenspan's childhood and education. Where did Greenspan study economics?
5. Where was Ayn Rand from? How is she described in Chapter 2?
6. Describe the different tranches of subprime loans discussed in Chapter 3. What were the differences between the tranches?
7. What did Eljon Williams learn about the commission involved in his mortgage?
8. How does the Tea Party mislead its followers from the true enemy, according to the author?
9. With what Tea Party member did Taibbi travel? What did he discover about the Republican candidates' issues?
10. How does the author relate Alan Greenspan's methods with those of a casino?
Write an essay for ONE of the following topics:
Essay Topic 1
Discuss Alan Greenspan's direct and indirect role in the financial disaster of 2008. What actions did Greenspan take which led to the market fallout?
Essay Topic 2
Describe the actions of Goldman-Sachs in relation to speculative trading. What actions did Goldman take which were unethical? What actions were potentially illegal?
Essay Topic 3
Discuss Solomon Edwards and the mortgage scams described in Chapter 3: Hot Potato, The Great American Mortgage Scam. What methods did investment companies use to coerce borrowers to commit to adjustable-mortgage loans?
This section contains 835 words
(approx. 3 pages at 300 words per page)