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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. Who had to withdraw from a summer calculus class in San Francisco because he couldn't afford the gas for the commute?

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

3. What do SWFs refer to?

4. Where was John McCain born?

5. In December 2008, Chicago Mayor Richard Daley announced that he had leased out the city's parking meters for over ____________.

Short Essay Questions

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

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

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

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

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

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

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

8. 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?

9. How does Taibbi describe the design of Obamacare?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Define and analyze securitization, sub prime loans and derivatives. How and when did these terms enter the American financial world?

Essay Topic 2

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

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?

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