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Famous Person Who Changed Banking
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Famous Person Who Changed Banking

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Questions and Answers

What financial innovation changed banking forever according to the text?

  • Insurance policies
  • Stock trading
  • Cryptocurrency investments
  • Mortgage-backed security (correct)
  • How did bundling thousands of mortgages together affect the yield and risk?

  • Decreased yield and decreased risk
  • Decreased yield and increased risk
  • Increased yield and decreased risk (correct)
  • Increased yield and increased risk
  • What was the credit rating of the bond discussed in the text?

  • AAA-rated (correct)
  • C-rated
  • AA-rated
  • B-rated
  • What industry became America's number one industry as mentioned in the text?

    <p>Banking</p> Signup and view all the answers

    In what year did the financial crisis happen according to the text?

    <p>2008</p> Signup and view all the answers

    What event led to Bear Stearns being described as being in a 'death spiral'?

    <p>The Fed brokering its sale</p> Signup and view all the answers

    What did Lewis Ranieri's mortgage-backed security eventually result in?

    <p>Creating a financial crisis</p> Signup and view all the answers

    Why were most experts, leaders, and talking heads unaware of the impending financial crisis?

    <p>They were focused on sound-bites</p> Signup and view all the answers

    What has been referred to as the worst financial crisis in modern times?

    <p>The collapse of the whole world economy</p> Signup and view all the answers

    In what way did some individuals differ from most experts regarding the financial crisis?

    <p>They accurately predicted the crisis</p> Signup and view all the answers

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