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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 3: Hot Potato, The Great American Mortgage Scam.

Multiple Choice Questions

1. What is a private, actively managed investment fund that utilizes sophisticated strategies in international and/or domestic markets, offsets losses during a market downturn, and/or generates returns higher than traditional stock and bond investments?
(a) Credit fund.
(b) Hedge fund.
(c) Derivatives fund.
(d) Stock portfolio.

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

3. The loans on the bottom tier of derivatives were referred to as what?
(a) Bottom feeders.
(b) AAA.
(c) Toxic waste.
(d) Top notch.

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

5. The Bear Stearns Companies, Inc. was based in what US city?
(a) Chicago.
(b) Los Angeles.
(c) Seattle.
(d) New York.

Short Answer Questions

1. According to the author, in his years of power, Alan Greenspan was able to turn the Federal Reserve into what?

2. During his economic studies, Alan Greenspan worked under Eugene Banks, a managing director at what Wall Street investment bank?

3. Who was Vice President to Richard Nixon?

4. When was The Fountainhead published?

5. With what Tea Party member did Matt Taibbi travel around Nevada in Chapter 1?

(see the answer key)

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