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Sunday Funday: Elizabeth Warren Is On The Banking Committee Edition

So let’s see what your banking IQ is. Bet you Elizabeth’s is about a zillion. See if you can concentrate over the weeping and gnashing of banker’s teeth in the background.

1) By assets, what is the largest bak in the world?
a) Industrial and Coomercial Bank of China
b) Royal Bank Of Scotland
c) Bank Of America
d) Deutsche Bank

2) The United States has ________ of the top ten banks in the world?
a) 5
b) 7
c) 2
d) 1

3) The estimated assets for the world’s largest bank is approximately
a) $2.75 trillion
b) $10 trillion
c) $800 billion
d) $500 billion

4) the largest bank in the US is
a) Bank of America
b) Citigroup
c) JP Morgan Chase
d) Wells Fargo

5) In 1995 the “Big Six” banks held assets that equal to what percentage of the GDP?
a) 8%
b) 17%
c) 33%
d) 48%

6) Today the “Big Six’ hold assets equal to what percentage of the GDP?
a) 25%
b) 40%
c) 60%
d) 80%

7) Does the United States have a central Bank?
a) yes
b) no

8) Recently, what Senator forced an audit of the federal Reserve?
a) Rand Paul
b) Bernie Sanders
c) Mitch McConnell
d) John Kerry

9) During that audit, the Fed was found to have how much in secret loans lent to various world institutions?
a) $16 Trillion
b) $27 Trillion
c) $1 Trillion
d) $800 Billion

10) The Federal Reserve was chartered in what year?
a) 1933
b) 1941
c) 1917
d) 1913

OK – this looks like a subject we can get into a little more later on. Nothing like thinking of money on a Sunday morning.
Here we go with some answers:

1) d) Deutsche Bank

2) c) 2 – JP Morgan Chase and Bank of America

3) a) $2.75 trillion

4) c) Jp Morgan Chase

5) b) 17%

6) c) 60%

7) a) yes – the Federal Reserve (some may have thought Andrew Jackson ended that – he did for a while)

8) b) Bernie Sanders

9) a) $16 trillion

10) d) 1913

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