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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 political party is Nancy Pelosi a member of?

2. Goldman-Sachs argued that investing in commodities futures would reduce risk and yield __________.

3. In international relations, what refers to a re-establishment of cordial relations, as between two countries?

4. Where did Scott Brown earn his law degree?

5. According to the author, state taxes were at a five-year low when oil prices surged to how much a barrel?

Short Essay Questions

1. How does Taibbi describe the design of Obamacare?

2. According to the author, what actually caused the surge in oil prices?

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

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

5. In Chapter 5, what does the author write of the correlation between decreasing taxes and rising prices?

6. How did the SWFs present a danger to the economy, as discussed in Chapter 5: The Outsourced Highway - Wealth Funds? When was Congress warned about the issue?

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

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

Discuss Alan Greenspan's direct and indirect role in the financial disaster of 2008. What actions did Greenspan take which led to the market fallout?

Essay Topic 3

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?

(see the answer keys)

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