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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. What refers to a financial market where participants can issue new debt, known as the Primary market, or buy and sell debt securities, known as the Secondary market, usually in the form of bonds?

2. T-Bills mature in what time?

3. For what political party was Sarah Palin the nominee for Vice President of the United States?

4. AIG was listed on the Dow Jones Industrial Average from _________ to September 22, 2008.

5. In Chapter 3, what process in which loans are split up and sold off to secondary investors as securities was used by banks?

Short Essay Questions

1. How did Matt Taibbi feel about the Presidential campaign in Chapter 1? What events were unforeseen at this point in history?

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

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

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

5. What does Taibbi assert to be the fundamental problem the the Tea Party's approach?

6. What truth of American politics does Taibbi assert in Chapter 1?

7. What did Eljon Williams learn about the commission involved in his mortgage?

8. What does Taibbi assert was at the root of the 2008 financial crisis?

9. What is the fundamental belief of objectivism, as described in Chapter 2?

10. How are "no doc" loans described in Chapter 3? How were the borrowers scammed in this system?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

Discuss CNBC economic analyst Rick Santelli and his response to Obama's plan to prevent foreclosures. What are other comments Santelli has made against the administration?

Essay Topic 3

Discuss the political career of Richard Nixon and the 1968 Presidential election. What strategies were in place for Nixon?

(see the answer keys)

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