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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. In 1991, Goldman-Sachs bought up a commodities trading company called ________.
(a) Wachovia.
(b) Solomon Edwards.
(c) J. Aron.
(d) Chase Bank.

2. When was Nancy Pelosi born?
(a) 1949.
(b) 1940.
(c) 1958.
(d) 1948.

3. What does the CFTC stand for?
(a) The Capitalist Futures Commission.
(b) The Community Finance Trading Commission.
(c) The Congressional Finance Trust Commission.
(d) The Commodity Futures Trading Commission.

4. What do SWFs refer to?
(a) Sovereign wealth funds.
(b) Static wealth funds.
(c) Static war funds.
(d) Solidified wealth funds.

5. Where was Robert Lukens being hit with gas expenses that were suddenly doubling, as described in Chapter 4?
(a) Reading, PA.
(b) Sacramento, CA.
(c) New York, NY.
(d) Westchester, NY.

Short Answer Questions

1. According to the author in Chapter 4: Blowout - The Commodities Bubble, speculators took over the commodities market and by 2008, what percent of commodity exchanges was speculative?

2. Scott Brown succeeded what United States Senator?

3. When was Barack Obama inaugurated as President of the United States?

4. What refers to politics or diplomacy based primarily on power and on practical and material factors and considerations, rather than ideological notions or moralistic or ethical premises?

5. In international relations, what refers to a re-establishment of cordial relations, as between two countries?

Short Essay Questions

1. What argument did Goldman-Sachs present for lessening regulation, as discussed in Chapter 4?

2. Who was responsible for purchasing Chicago's parking meters, as described in Chapter 5?

3. What changed the regulation for trust funds and pension funds, as described in Chapter 4?

4. How does Taibbi conclude Chapter 4? What does the author remark regarding the motivations of the wealthy?

5. What correlation is there between bankruptcies in the United States and the current health care system, as described in Chapter 6?

6. What was the author shocked to discover from a friend working for a SWF in Chapter 5?

7. Why did Obama support giveaways to pharmaceutical companies, as discussed in Chapter 6?

8. According to the author, what actually caused the surge in oil prices?

9. How did the power structure of Congress change with Scott Brown's election in Chapter 6: The Trillion-dollar Band-Aid - Health Care Reform?

10. What led up to OPEC's oil embargo in the 1970s, as described in Chapter 5?

(see the answer keys)

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