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When searching for a new job, especially in finance, it&amp;#8217;s essential to stay informed of current business news and trends, since they&amp;#8217;re often the topics of interview questions and lunch meetings, and could affect where (and to whom exactly) you&amp;#8217;ll be sending your resume. &lt;p&gt;To that end, find out how prepared you are for your job search: test your knowledge of bank failures, bankruptcy filings, mergers and bailout plans by taking the FCAT (Financial Crisis Aptitude Test) below. &lt;p&gt;&lt;b&gt;1. Which bank merger was brokered by the federal government? &lt;/b&gt;&lt;br&gt;(a) JPMorgan Chase-Bear Stearns&lt;br&gt;(b) JPMorgan Chase-Washington Mutual&lt;br&gt;(c) Citigroup-Wachovia&lt;br&gt;(d) All of the above&lt;br&gt;&lt;p&gt;&lt;b&gt;2. Which firm was seized by the Feds and is now partially owned by U.S. taxpayers (whether they like it or not)? &lt;/b&gt;&lt;br&gt;(a) American International Group&lt;br&gt;(b) Fannie Mae&lt;br&gt;(c) Freddie Mac&lt;br&gt;(d) All of the above &lt;p&gt;&lt;b&gt;3. Which statement was made by Lehman Brothers C.E.O. Dick Fuld in June 2008, three months before his firm filed for Chapter 11 bankruptcy? &lt;/b&gt;&lt;br&gt;(a) &amp;#8220;We have begun to take the necessary steps to restore the credibility of our great franchise and to ensure this quarter&amp;#8217;s unacceptable performance is not repeated.&amp;#8221; &lt;br&gt;(b) &amp;#8220;We&amp;#8217;ve made a number of changes. Now it&amp;#8217;s now my job to make sure we execute.&amp;#8221; &lt;br&gt;(c) &amp;#8220;Today, with the power of this franchise, we can very much go it alone and be very strong.&amp;#8221; &lt;br&gt;(d) All of the above &lt;p&gt;&lt;b&gt;4. Which private equity firm lost $1.35 billion when its investment in Washington Mutual was wiped out after WaMu became the biggest bank in U.S. history to fail? &lt;/b&gt;&lt;br&gt;(a) KKR&lt;br&gt;(b) TPG&lt;br&gt;(c) AIG&lt;br&gt;(d) PIG &lt;p&gt;&lt;b&gt;5. Who likened attempting to persuade Treasury Secretary Henry Paulson to include CEO salary restrictions on the Fed&amp;#8217;s $700 billion bailout plan to &amp;#8220;trying to force the Grand Rabbi of Jerusalem to eat bacon on Yom Kippur?&amp;#8221; &lt;/b&gt;&lt;br&gt;(a) Sarah Palin, Governor of Alaska&lt;br&gt;(b) Barney Frank, Chairman of the House Financial Services Committee&lt;br&gt;(c) Warren Buffett, Oracle of Nebraska&lt;br&gt;(d) All of the above &lt;p&gt;&lt;b&gt;6. True or False: Bear Stearns, IndyMac, Lehman Brothers, Merrill Lynch, Wachovia and Washington Mutual have either failed, filed for bankruptcy or been acquired in the past year. &lt;/b&gt;&lt;p&gt;&lt;b&gt;7. Which two banks switched their status to holding companies to increase their resources and prevent their failing? &lt;/b&gt;&lt;br&gt;(a) Goldman Sachs &amp;amp; Morgan Stanley&lt;br&gt;(b) IndyMac &amp;amp; Bear Stearns&lt;br&gt;(c) Merrill Lynch &amp;amp; Lehman Brothers&lt;br&gt;(d) Wachovia &amp;amp; Washington Mutual &lt;p&gt;&lt;b&gt;8. Which of the following men has NEVER been employed by Goldman Sachs? &lt;/b&gt;&lt;br&gt;(a) Treasury Secretary Henry Paulson&lt;br&gt;(b) White House Chief of Staff Joshua Bolten&lt;br&gt;(c) World Wrestling Entertainment&amp;#8217;s Charlie &amp;#8220;Haas of Pain&amp;#8221; Haas&lt;br&gt;(d) None of the above &lt;p&gt;&lt;b&gt;9. True or False: In an interview after buying $5 billion worth of preferred stock in Goldman Sachs, Warren Buffet, the 78-year-old investing guru worth more than $60 billion, said, &amp;#8220;It&#39;s nice to have a lot of money, but you don&#39;t want to keep it around forever &amp;#8230; Otherwise it&#39;s a little like saving up sex for your old age.&amp;#8221; &lt;/b&gt;&lt;p&gt;&lt;b&gt;10. Who said, &amp;#8220;It&amp;#8217;s the longest Hail Mary pass in the history of either football or Marys,&amp;#8221; of Senator John McCain suspending his campaign until a federal bailout package could be reached? &lt;/b&gt;&lt;br&gt;(a) Sarah Palin, Governor of Alaska&lt;br&gt;(b) Vladimir Putin, Prime Minister of Russia&lt;br&gt;(c) Barney Frank, Chairman of the House Financial Services Committee&lt;br&gt;(d) All of the above &lt;p&gt;&lt;b&gt;11. How many points did the Dow Jones Industrial Average fall&amp;nbsp;this past Monday afternoon&amp;nbsp;after the House of Representatives failed to pass the federal bailout plan? &lt;/b&gt;&lt;br&gt;(a) 2&lt;br&gt;(b) 12&lt;br&gt;(c) 666&lt;br&gt;(d) 778 &lt;p&gt;&lt;b&gt;Answers: &lt;/b&gt;&lt;br&gt;(1) d, (2) d, (3) d, (4) b, (5) b, (6) true, (7) a, (8) d, (9) true, (10) c, (11) d&lt;/p&gt;

Derek Loosvelt

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