Monday, September 23, 2013



Due By Monday, 9/30/13
Listening Guide for "The Giant Pool of Money"
10 points

These are questions for understanding.  I'll post the assignment in a couple days. The assignment will be a google form that you type in answers to 5-10 summary questions that will require a sentence or two.

2 points EXTRA CREDIT if your parent/guardian listens with, and signs a note saying that you have had at the very least, some form of discussion about this event. Parents, I encourage you to drag this conversation out as long as possible, grill your students endlessly, about the details, etc. Or just enjoy it.

The listening guide is time stamped to help you keep pace.  You don't have to answer these questions, but they will be assessed on the google form. Here is the link to the giant pool of money.

The program is 1 hour long.  If you make make some notes as you listen, it will probably take you another 15 minutes or so to do the online "reading quiz."

The Giant Pool Of Money.
1.     What is a ‘sub prime crisis’
2.     What is a NINA loan? And what happened to Clarence?
3.     (6:20)What are the two versions of the story of loans?
4.     And  what is an Imprudent Partnership?
5.     (8:30)What is the Global Pool of Money?
6.     What happened do the pool right around 2000-2006
7.     (10:50)How
8.     (12:00)How did Alan Greenspan affect investment of the GPM. (Giant Pool of money)
9.     (13:45)Why were mortgage loans so attractive
10.   What is the chain
11.   What is a mortgage backed security.
12.   (16:20)Largest Private Mortgage bank in Nevada: Mike Garner: What was his job.
13.   What kind of mortgages did he start buying: What happened in 2003
14.   Stated Income, Verified Asset. What and why is it.
15.   How do you verify the Stated Income?
16.   NIVA, NINA
17.   Why didn’t anyone care about the risk?
18.   What happened to house prices, and what was the flaw.
19.   (23:00)How much was Glen making:
20.   What was he doing.
21.   How did he live.
22.   How did he make his money.
23.   Who designed the computer models, and what was the view.
24.   What are possible foreclosure rates vs. projections.
25.   (29:50)What turned the problem into a Crisis
26.   Were CDO’s safe
27.   What is the issue of seeing homes as an investment?
28.   What happened to income from 2000-2007
29.   (35:10)What do we mean by speculative bubble.
30.   (39:13)What does it mean to be a highly leveraged bank
31.   So what happened to Silverstate mortgage.
32.   (45:25)What about Richard, the former marine?
33.   What about the music: do you like it?
34.   (47:15)What was his stated income on his original loan and what was he really making.
35.   Why did the mortgage broker falsify info.
36.   Was there fraud.
37.   (49:45)Who owns the loan?
38.   How many individual loans was one office running
39.   (51:30) How does the IT guy see lives…
40.   What is the value of AAA mortgage back CDO’s worth
41.   . What is a AAA ranking
42.   (54:30) What happened to the Global pool of money.
43.   What is the goal of the GPM now.
44.   Result?
45.   Can Iceland get loans? Explain?
46.   Effect on Student lending.
47.   Effect on bankruptcy?
48.   . (56:43) What decade do ‘they’ think it will be like

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