When Genius Failed Quiz | Four Week Quiz B

Roger Lowenstein
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This quiz consists of 5 multiple choice and 5 short answer questions through At the Fed.

Multiple Choice Questions

1. What typically happens to stock prices when a merger is revealed?
(a) They go up.
(b) They stay the same.
(c) They crash.
(d) They go down.

2. What was Meriwether's team allowed to do, following the Treasury bill deal?
(a) Vacation in Italy.
(b) Coach the office.
(c) Set Treasury standards.
(d) Spread trades.

3. How many banks stepped forward to help bail out Long-Term?
(a) 20.
(b) 16.
(c) 2.
(d) 30.

4. What type of strategy did Long-Term employ?
(a) Low risk.
(b) High risk.
(c) Whatever was dictated by the market.
(d) Moderate risk.

5. In 1998, what were many hedge funds selling insurance against?
(a) The Latin market.
(b) Rising prices.
(c) The U.S. Treasury.
(d) Falling prices.

Short Answer Questions

1. What did a dealer from J.F. Eckstein & Co. want from Meriwether in 1979?

2. In 1994, what market did Long-Term begin to express an interest in?

3. What factor was forcing those with hedge funds to sell?

4. What was the dollar amount of the premium Long-Term paid for its loan?

5. In 1993, what was happening more than usual in America?

(see the answer key)

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