2008 Crisis
This product was at the root of the 2008 financial crisis. It is the largest loan that most individuals will ever take out.
What is a mortgage?
The practice of creating interest in a product or service and convincing potential customers to buy it.
What is marketing?
The opposite of credit, this term is used to indicate money taken from an account.
What is a debit?
Generally speaking, in the United States, your job can be terminated for...
What is any reason?
A document submitted as part of a job application that contains an explanation on why you're a good fit for the role and company.
What is a cover letter?
A position designed to make money when the price of a financial product falls.
What is a short?
A psychological trick that is used to convince shoppers that the price of a product is lower than it actually is. This strategy might make a product that actually costs close to $4 appear as if it were closer to $3.
What is charm pricing?
This entity loans out more money for student loans than all other lenders combined.
What is the US government?
The moral principles that govern a person's behavior or the conducting of an activity.
What is ethics?
The French word for "summary", this document contains a list of accomplishments, experiences, and skills that is submitted along with a job application.
What is a resume?
The largest bankruptcy in United States history. This company had assets of 691 billion when it declared for bankruptcy in 2008.
What is the Lehman Brothers bankruptcy?
The 4 Ps of marketing.
What are Product, Price, Promotion, Placement?
According to Einstein, this is "the most powerful force in the universe". It explains why earnings on investments rise over time, as investors not only earn interest on the original investment, but earn interest on the interest.
What is compound interest?
A workplace where an employee's ability to perform their job is negatively impacted by the words or actions of a coworker, manager, or supervisor.
What is a hostile work environment?
Where job candidates are asked a series of questions in order to assess their fit for the job.
What is an interview?
A new type of mortgage loan that started to appear in the years leading up to 2008. Referred to by an anglicized Japanese word, it refers to a mortgage where the borrower does not have an income, job, or assets.
What is a ninja loan?
This Harvard dropout is one of the richest people in the world, earning his billions from founding one of the largest tech companies in the world: Microsoft.
Who is Bill Gates?
This federal agency insures all deposits under $250,000 for bank customers.
What is the FDIC
A category of illegitimate grounds for termination that includes jury duty, voting, or pregnancy.
What is violating public policy?
The process of building connections and relationships that can be used to help you find a job. People use tools such as LinkedIn to help with this.
What is networking?
This derivative financial instrument was used by Michael Burry and other short sellers to make money off the housing crisis by buying insurance against homeowners defaulting on mortgages. Companies like AIG, in turn, lost large amounts of money betting that home prices would not fall.
What is a credit default swap?
Element of marketing mix responsible for making a product available to its customers.
What is placement?
Applying for a large number of credit cards, making late payments, failing to pay bills, going into bankruptcy, taking on large amounts of debt, losing your house due to failure to pay a mortgage.
What are things that reduce your credit score?
The type of lawsuit filed when an act or omission causes harm or injury to another person.
What is a tort?
After an interview, once you return home, you should send this in order to make one more contact with your interviewers, acknowledge them, and also possibly say anything that you feel you left out of the interview.
What is a thank you note?