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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. Nancy Pelosi is the Minority Leader of ______________.

2. In what year did President Nixon decide to rearm the Israelis, angering the oil-producing Arab states?

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

4. When did John McCain marry Carol Shepp?

5. The Prudent Man Rule was last revised in what year?

Short Essay Questions

1. How are SFWs defined in Chapter 5: The Outsourced Highway - Wealth Funds?

2. What led up to OPEC's oil embargo in the 1970s, as described in Chapter 5?

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

4. How did the power structure of Congress change with Scott Brown's election in Chapter 6: The Trillion-dollar Band-Aid - Health Care Reform?

5. When did Richard Daley lease Chicago's parking meters? For how much money were they leased, as described in Chapter 5?

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

7. Where is most of the money in the American health care system tied up?

8. What does Taibbi assert as an ominous element of health care legislation?

9. 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?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the political career of Richard Nixon and the 1968 Presidential election. What strategies were in place for Nixon?

Essay Topic 2

Define and analyze commodity index investing, the speculative commodities market and the commodities futures market. When did these terms and processes arise on Wall Street?

Essay Topic 3

Discuss Solomon Edwards and the mortgage scams described in Chapter 3: Hot Potato, The Great American Mortgage Scam. What methods did investment companies use to coerce borrowers to commit to adjustable-mortgage loans?

(see the answer keys)

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