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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, according to the author, had been designed as a massive political deal with big giveaways to pharmaceutical companies in the form of subsidies and a big gift to the insurance industry in the form of the individual mandate?

2. In what year was Congress warned in testimony before the House Foreign Affairs Committee about a new world economic order?

3. The Prudent Man Rule was last revised in what year?

4. During which President's administration did the head of the Commodity Futures Trading Commission allow Wall Street speculation to be recognized as "bona fide hedging"?

5. The author was astonished to learn that a port in what state was on the block for sale?

Short Essay Questions

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

2. What was the author shocked to discover from a friend working for a SWF in Chapter 5?

3. How did the power structure of Congress change with Scott Brown's election in Chapter 6: The Trillion-dollar Band-Aid - Health Care Reform?

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

5. What is the commodities market and how has it affected American finance?

6. What led to the end of the Yom Kippur War, as discussed in Chapter 5?

7. What was index speculation comprised of, as described in Chapter 4?

8. Define "derivatives." What creates derivatives?

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

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

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?

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