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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. In what year did Alan Greenspan earn his M.A. degree in economics?

2. Eljon Williams had what profession?

3. What refers to the part of the capital markets that deals with the issuance of new securities?

4. Since 2002, Deutsche Bank's Chief Executive Officer and Chairman of the Group Executive Committee has been __________.

5. T-Bills mature in what time?

Short Essay Questions

1. Describe Alan Greenspan's childhood and education. Where did Greenspan study economics?

2. What impact did Alan Greenspan have on the Federal Reserve during his years in power?

3. What process did banks undertake in order to sells risky loans, as described in Chapter 3?

4. How did the market for subprime loans change between 2002 and 2005?

5. How did Ayn Rand influence Alan Greenspan, and in effect, American finance?

6. Who was Eljon Williams and how did he become involved in a mortgage scam as described in Chapter 3?

7. How does Taibbi believe Sarah Palin took Nixon's campaign strategy further?

8. What does Taibbi remark about the Tea Party's obsession with the past?

9. What does Taibbi write of his thoughts on Sarah Palin in Chapter 1?

10. Where was Ayn Rand from? How is she described in Chapter 2?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Compare and contrast the strategies of the Nixon campaign with those of the Tea Party. How did Palin's approach relate to Nixon's?

Essay Topic 2

Discuss the role of the Federal Reserve in American finance and the approach that Alan Greenspan had in controlling the American economy. What are the different ways in which the Fed can monitor the economy?

Essay Topic 3

Define and analyze securitization, sub prime loans and derivatives. How and when did these terms enter the American financial world?

(see the answer keys)

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