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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. By 1983, what was the worth of Drexel's junk bond business?

2. Where was much of the money coming from for takeovers in the 1980s?

3. Who was another player involved in the National Can takeover attempt?

4. Where did Milken and his wife buy a house?

5. What was the address of the new building in L. A.?

Short Essay Questions

1. Explain the beginnings of blind pools arranged by Milken.

2. Why was Milken not employed by some of the biggest Wall Street firms?

3. What was the subject of the meeting at the Barbizon Plaza in New York held by Fred Joseph?

4. How did HITS come about and what was it?

5. Describe how Michael Milken is introduced in the book.

6. Explain why Milken wanted to move his operation to Los Angeles.

7. Explain some of Drexel's problem clients in the early 1980s.

8. How did Fred Joseph begin his goal of making Drexel a top notch firm in fifteen years?

9. Tell something about Milken's first house in California.

10. How did Drexel go about creating the Air Fund in an effort to get into M&A?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Write a paper about the shrinking world. In the 1980s, Drexel and Milken were able to do business from opposite sides of the continent by using telephone lines. Show in your paper how much easier it is to do business long distance. Give examples of how this is being done today.

Essay Topic 2

Write a paper on stock parking. Milken and Drexel were investigated for this practice, but they were not the only ones. Define stock parking and research other instances of charges brought against investor and investment firms for doing this. Be sure to include why a person wanting to gain control of a company might want to use this illegal method.

Essay Topic 3

Write an essay about how it is possible for one to achieve dreams by hard work and study. Use Michael Milken as an example of coming up from not being able to get a job with a major Wall Street investment firm to having his picture on the cover of financial magazines. Do not include his downfall as that is the subject for another essay.

(see the answer keys)

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