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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. In Chapter 7, Steve Eisman learned that the rating companies were working with the same information as who?

2. What is the title of Chapter 8?

3. What is the title of Chapter 6?

4. When did John Gutfreund become managing partner of Salomon Brothers?

5. What does NASD stand for?

Short Essay Questions

1. How did Howie Hubler get involved with CDO trading in Chapter 9?

2. How much did Mike Burry make from his CDSs in Chapter 9? What was his outcome?

3. When did Howie Hubler disappear? How much did Morgan Stanley lose from his actions?

4. What information did Steve Eisman discover about the rating companies in Chapter 7?

5. What conclusion did Steve Eisman reach regarding the CDSs and CDOs in Chapter 7?

6. What did Morgan Stanley offer Howie Hubler in Chapter 9?

7. What was Wing Chau selling essentially, as discovered by Eisman in Chapter 6?

8. What fraudulent actions did Mike Burry take in Chapter 8? Why?

9. What took place as Steve Eisman gave a speech in Chapter 10?

10. Who does the author describe meeting for lunch in the Epilogue?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss Greg Lippmann and the dealings between Deutsche Bank and FrontPoint. What was Lippmann's objective in approaching Eisman?

Essay Topic 2

Discuss Charlie Ledley's objectives and obstacles at the Las Vegas conference. What did Ledley hope to achieve at the conference and what stood in his way?

Essay Topic 3

Discuss Cornwall Capital Management in comparison with Scion and FrontPoint. How did each of these companies compare in terms of assets and investors?

(see the answer keys)

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