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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. A new investment vehicle called index speculation was comprised of two main indices which were the Goldman-Sachs Commodity Index and ____________.

2. When did the Yom Kippur War begin?

3. Nancy Pelosi served as the 60th Speaker of the United States House of Representatives from 2007 to ______.

4. In Chapter 5, the author was astonished to learn that all the parking meters in what city were on the block for sale?

5. When was Nancy Pelosi born?

Short Essay Questions

1. What does Taibbi assert as an ominous element of health care legislation?

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

3. When did Richard Daley lease Chicago's parking meters? For how much money were they leased, as described in Chapter 5?

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

5. Define "derivatives." What creates derivatives?

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

7. What scenarios does the author describe for Priscilla Carillo and Robert Lukas in Chapter 4?

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

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

10. Where is most of the money in the American health care system tied up?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the changes in speculative trading during the George W. Bush administration. What did these changes mean for Goldman-Sachs?

Essay Topic 2

Describe the actions of Goldman-Sachs in relation to speculative trading. What actions did Goldman take which were unethical? What actions were potentially illegal?

Essay Topic 3

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

(see the answer keys)

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