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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. The investment bank division of Deutsche Bank is head-quartered where?

2. According to the author, the top one percent of Americans own almost what percent of the wealth?

3. The loans on the bottom tier of derivatives were referred to as what?

4. According to the author, the Tea Party distracts its followers from the real villains of Wall Street by convincing itself that what is the enemy?

5. Eljon Williams and his wife were shocked when their mortgage went up over how much from one month to the next in Chapter 3?

Short Essay Questions

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

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

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

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

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

6. What actions did Alan Greenspan take which led directly to the housing bubble bust?

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

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

9. How did the public and private sectors evolve and change during Alan Greenspan's reign of the Federal Reserve, as described in Chapter 2?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe and discuss the life and career of Alan Greenspan. How did Greenspan come to become head of the Federal Reserve?

Essay Topic 2

Discuss the career of Matt Taibbi and the critical reception of the book. To what writers was Taibbi associated in regard to his style and themes?

Essay Topic 3

Discuss the role of the news media in politics today. How has the media changed in the past 50 years and what have been the impacts of those changes?

(see the answer keys)

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