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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. The author thinks that all money men either have ______ hair or are bald.

2. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.

3. Gutfreund's challenging of Meriwether to a game of Liar's Poker is his way of showing he is ______.

4. In the bond market, unlike the stock market, ______ are not openly stated.

5. What floor at Salomon brothers is said to have low ceilings, no windows, and the charm of an engine room?

Short Essay Questions

1. Why is a single home mortgage considered a messy investment for Wall Street?

2. Why does one of the female trainees become the first person to finally talk to the author in the training program at Salomon Brothers?

3. How does Bob Dall react when he is replaced by Ranieri?

4. Why are corporate financiers considered wimps by traders?

5. What is one of the main concerns of the old hands at Salomon Brothers concerning the state of affairs in the economics of America in the 1980s?

6. How does Meriwether beat Gutfreund before the game of Liar's Poker even starts?

7. Why does Gutfreund challenge Meriwether to Liar's Poker?

8. The author uses the analogy of two benevolent hands that "stuff the turkey" that Wall Street firms eat the stuffing from. What does he mean by this?

9. How does the author manage to get a connection into Salomon Brothers?

10. What is the "3-6-3 Club"?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe the training program at Salomon Brothers. How is it perceived by other firms? What is the difference between the people who sit in the front row and the people who sit in the back row of the training sessions? How are the Japanese trainees perceived? How do they perceive themselves? To which speaker does the back row respond favorably? Why?

Essay Topic 2

Describe the evolution of the mortgage trading department at Salomon Brothers. Who came up with the idea to develop that department? Who saw it through the hard times? What were some of the stumbling blocks that had to be overcome to make mortgages viable for trading? How does it finally become successful?

Essay Topic 3

Compare the personality traits of Lewie Ranieri and Michael Milken. What is the difference between their careers in regards to their respective companies? Compare the amount of money each person made. Why did one make more money than the other?

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