Identify who, what, where, when, and/or why the following are important:
1. global war on terror
2. "coalition of the willing"
3. waterboarding
4. "wedge" issues
5. "standards based educational reform"
6. initial public offering (IPO)
7. toxic assets
8. Bernard Madoff
9. Sarah Palin
10. Patient Protection and Affordable Care Act

1. **Global War on Terror**: This term refers to the international military campaign launched by the United States and its allies after the September 11, 2001, terrorist attacks. The aim was to eliminate al-Qaeda and other militant organizations. It is important because it has shaped international relations, domestic policies, and military strategies for over two decades, leading to wars in Afghanistan and Iraq, among other consequences.
2. **"Coalition of the Willing"**: This phrase was used to describe the countries that aligned with the United States in its invasion of Iraq in 2003. It is significant because it showed the division among world powers regarding the decision to go to war in Iraq, with some major countries like France and Germany opposing the invasion.
3. **Waterboarding**: A controversial interrogation technique that simulates drowning and is considered by many to be a form of torture. It gained notoriety after its use by U.S. personnel on suspected terrorists during the Global War on Terror. Its importance lies in the ethical and legal debates it sparked regarding human rights and the treatment of prisoners.
4. **"Wedge" Issues**: These are divisive political issues, such as abortion or gun control, that are used by political parties to split apart the electorate and gain support from certain demographic groups. They are important because they can influence elections and public policy by shifting the focus of political discourse.
5. **"Standards-Based Educational Reform"**: This is an approach to education policy that emphasizes setting clear, measurable standards for student achievement and holding schools and teachers accountable for students reaching those standards. It became prominent with the No Child Left Behind Act of 2001 in the United States. Its importance lies in its impact on teaching practices, student assessment, and educational outcomes.
6. **Initial Public Offering (IPO)**: An IPO is the process by which a private company offers shares to the public for the first time. It is a critical step for a company looking to raise capital and expand its business. IPOs are important because they can provide insights into the health of financial markets and the economy.
7. **Toxic Assets**: These are assets, primarily financial instruments like mortgages, whose value has significantly dropped and are difficult to sell. They became widely known during the financial crisis of 2007-2008 when they contributed to the collapse of financial institutions and required government bailouts. Understanding toxic assets is important for grasping the causes and consequences of financial crises.
8. **Bernard Madoff**: He was an American financier who orchestrated the largest Ponzi scheme in history, defrauding thousands of investors of billions of dollars. Madoff's case is important because it highlighted regulatory failures, the need for investor vigilance, and the impact of financial fraud on the economy and public trust.
9. **Sarah Palin**: She is an American politician who served as the Governor of Alaska and was the Republican vice-presidential nominee in the 2008 election alongside John McCain. Palin is significant because she energized the conservative base, influenced the Tea Party movement, and has been a prominent figure in American politics.
10. **Patient Protection and Affordable Care Act**: Commonly known as Obamacare, this landmark health reform legislation was signed into law by President Barack Obama in 2010. It aimed to reduce the number of uninsured Americans, expand Medicaid, and prevent insurance companies from denying coverage for pre-existing conditions. Its importance lies in its comprehensive approach to improving the U.S. healthcare system and the political debates it continues to generate.