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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. Where was Robert Lukens being hit with gas expenses that were suddenly doubling, as described in Chapter 4?

2. What occupation did Barack Obama have before earning his law degree?

3. During the Yom Kippur War, Syria and Egypt attacked territories Israel had captured in what war?

4. Five years prior to the moment Priscilla Carillo started living in her car, the commodity indices rose from $13 billion to what amount?

5. What candidate did Scott Brown face in the 2010 special election?

Short Essay Questions

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

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

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. What did the news media and politicians attempt to blame the surge in oil prices on in Chapter 4?

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

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

8. What changed the regulation for trust funds and pension funds, as described in Chapter 4?

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

10. Define "derivatives." What creates derivatives?

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

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

Essay Topic 3

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?

(see the answer keys)

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