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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. What type of communication do the author and Dash launch into at the beginning of the work day?

2. What is it called when a trader offloads bonds down a customer's throat for the company's benefit?

3. What is the chief occupational hazard of the trading floor?

4. Gutfreund is treated like a _____ in London.

5. Ranieri is the guru of the _____ industry.

Short Essay Questions

1. What is happening in colleges in Britain by the end of 1986?

2. Why do costs at Salomon Brothers seem to suddenly matter in 1985?

3. What happens to the average age and the average age at Salomon Brothers in London in 1987?

4. From the moment the Federal Reserve lifted interest rates in October 1979, what happens to the thrifts?

5. The author is convinced that the worst thing a man can do with a telephone without breaking the law is what?

6. What is drifting away from Salomon Brothers and toward Drexel Burnham in 1987? Why?

7. Why do thrifts come back for more, even though they don't understand what is happening to their loans in the mortgage bond market?

8. What are the two kinds of friction at Salomon Brothers?

9. What is the particular need of thrifts in terms of investing in the mortgage bond market?

10. How does Lewie Ranieri feel about Michael Milken? How does this differ from John Gutfreund's opinion of him?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe the change that took place in the bond market in the 1980s. What event took place in 1979 to affect this change? Who was involved? How did the change affect people's perception of bonds? How did Salomon Brothers make money at bonds?

Essay Topic 2

How does the author finally become a Big Swinging Dick? Who dubs him so? Who does he sell to to attain this level at Salomon Brothers? What does he sell? How does he feel about the whole affair?

Essay Topic 3

How does the Glass-Steagall Act of 1934 cleave the banking industry in two? What two sectors of banking are created as a result of the act? What functions do these two sectors serve? How are the two sectors of banking perceived by the author?

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