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This quiz consists of 5 multiple choice and 5 short answer questions through Part 2: Chapter 8, Icahn-TWA: From Greenmailer to Manager-Owner.

Multiple Choice Questions

1. Why did Milken take the bus from New Jersey to Wall Street?
(a) because he liked the people on the bus
(b) to avoid talking to Wall Street people
(c) because he could not afford the train
(d) because he did not drive a car

2. What became the name of bonds that come into being during highly leveraged takeovers?
(a) Tickertape
(b) Paper trails
(c) Chinese paper
(d) Hot paper

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

4. What is a proxy fight?
(a) two blondes fighting
(b) stockholder meetings where some are locked out
(c) stockholder meetings where the management team is voted out
(d) having someone else fight a duel for you

5. Where was much of the money coming from for takeovers in the 1980s?
(a) foreign investors with extra capital
(b) fake junk bonds imitating Milken's bonds
(c) the break up and sale of raided company divisions
(d) big blind pools that Milken would raise for his customers

Short Answer Questions

1. Eventually, what did First Federal and Columbia Savings become?

2. What was the estate they bought?

3. Why did the new Drexel Burnham company give Milken a $2 million position?

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

5. What was the object of gaining control of a company and sell off many of its divisions?

(see the answer key)

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