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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 market for securities (debt or equity), where business enterprises and governments can raise long-term funds?

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

3. Alan Greenspan joined the Richard Nixon campaign in what year?

4. When did Alan Greenspan earn his doctorate in economics?

5. When did Lehman Brothers declare bankruptcy?

Short Essay Questions

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

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

3. What setback does the author describe for a banker named Andy?

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

5. As described in Chapter 2, what was Alan Greenspan's focus in controlling the United States economy?

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

7. Describe the different tranches of subprime loans discussed in Chapter 3. What were the differences between the tranches?

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

9. How does the Tea Party mislead its followers from the true enemy, according to the author?

10. How did Greenspan's views of American politics change over time?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Define and analyze commodity index investing, the speculative commodities market and the commodities futures market. When did these terms and processes arise on Wall Street?

Essay Topic 2

Describe the Glass-Steagall Act and the Gramm-Leach-Bliley Law. When were these regulations enacted and what impact did they have on finance?

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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