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POP QUIZ

by YES! Staff

POP QUIZ

Welcome to the YES! Weekly Pop Quiz, where we ask local politicians and public servants about their jobs. This week, we turn the tables by asking ordinary people to tell us what several acronyms stand for that relate to the economic downturn. Your elected representatives aremaking important decisions on your behalf, and we hope you have some idea what’s going on.

QUESTIONS

1. What does TARP stand for? 2. What does FDIC stand for? 3. What does ARM stand for? 4. What does LIBOR stand for? (extra credit)

Kevin Taylor; freshman, NC A&T University; found in Center City Park, Greensboro

1. I have no idea. [Hint offered]… I still have no idea. [X] 2. Federal Division of Income [X] 3. A stands for “American”? I don’t know. [X] 4. Yeah. [X]

Greg Wisnewski; visiting from Charlotte; auditor, Lincoln Harris; found in Center City Park, Greensboro

1. That would be — is it Temporary Asset Relief Program? [ -] 2. Federal Deposit Insurance Corporation [ -] 3. Adjustable rate mortgage [ ] 4. You know, I can’t think of that. I’ve heard it, but it’s not ringing a bell. [X]

Tim Shytle; visiting from Charlotte; architectural engineer, Harrington Group, found at Gate gas station on West Lee Street, Greensboro

1. Trouble… I don’t know. [X] 2. Federal Deposit Insurance Corporation [ -] 3. Automatic rate… adjustable rate mortgage [ ] 4. No, I’m not familiar with that. [X]

Dennis Xenos; freshman at GTCC and cashier at Harris Teeter; found at Adams Farm Shopping Center, Greensboro

1. I don’t think so. [X] 2. [Humming] Federal tax income. I don’t know. It’s not tax? [X] 3. I’m telling you I’m bad with acronyms in English. I’m taking macroeconomics next semester, and I’m sure I’ll learn that. [X] 4. I need to work on acronyms. LOL I learned that as soon as I got here. [X]

ANSWERS

1. Troubled Assets Relief Program 2. Federal Depositors Insurance Corporation 3. Adjustable-rate mortgage 4. London InterBank Offered Rate

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