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This quiz consists of 5 multiple choice and 5 short answer questions through Part 3: Chapter 17, The Humbling.

Multiple Choice Questions

1. What was Milken's problem with back office people at Drexel?
(a) He did not work well with Jewish people.
(b) He did not understand their work.
(c) He was less educated than they were.
(d) He could not communicate with them.

2. What kind of business did Milken's Belvedere Securities do?
(a) traded new lamps for old in a manner of speaking
(b) traded bonds anonymously for clients of Drexel
(c) traded the body of the bond separate from its coupons
(d) traded business secrets learned in hostile takeovers

3. Where did Grant point out most of the junk bonds were held?
(a) in escrow
(b) in the Federal Reserve Bank
(c) in the hands of a few Milken people
(d) only in the hands of major corporations

4. How did Perelman acquire Technicolor?
(a) paying full price
(b) buying on credit
(c) directing a hostile takeover
(d) selling junk bonds

5. Why were Milken's imitators not as successful as he was?
(a) They could not raise the money Milken could or with the same speed.
(b) They were bound by deeper government regulations.
(c) They could not invest as much firm money.
(d) They had no idea how he was doing his business.

Short Answer Questions

1. Who dominated the market in junk bond funds from 1978 on?

2. What made Drexel's troubles even worse after Boesky Day?

3. To Drexel, what did certain concessions to clients mean?

4. Who paid $2-billion for the Metromedia television stations and their assets?

5. What was Drexel's only real competition by the 1980s?

(see the answer key)

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