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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 16-17.

Multiple Choice Questions

1. Gerald Donini asserts when speaking with Jim Cramer in Chapter 5 that he felt the real problem in the marketplace wasn’t short-selling, but what?
(a) Stocks
(b) Naked-shorting
(c) Derivatives
(d) Subprime lending

2. In what year does the author state Long-Term Capital Management blew up in Chapter 5?
(a) 1999
(b) 1996
(c) 1998
(d) 1995

3. Henry Paulson told the bankers at the meeting at the Treasury building in Chapter 11 that they had three objectives. What were they?
(a) Market stability, mortgage availability, and taxpayer protection
(b) Public opinion, taxpayer protection, and interest rates
(c) Wealth security, public opinion, and legal loopholes
(d) Stock values, interest rates, and new legislation

4. As part of the plan for dealing with AIG’s problems, Bob Willumstad would be replaced as CEO of AIG by who, according to the author in Chapter 16?
(a) Ed Liddy
(b) Robert Scully
(c) Lewis Glucksman
(d) Eliot Spitzer

5. When did FAS 157 become effective?
(a) November 15, 2007
(b) August 1, 2004
(c) June 28, 2005
(d) May 9, 2006

Short Answer Questions

1. Who was described in Chapter 17 as “a thirty-eight-year-old governor at the Federal Reserve, whose office was a few doors down from Bernanke’s”?

2. Jim Cramer was a popular television celebrity with an influential financial program on what network, according to the author in Chapter 5?

3. Henry Paulson cut his meeting short with the bankers in Chapter 11 because he was going with his family to attend the Olympic Games where?

4. What headline on the Wall Street Journal was nagging at John Mack in the beginning of Chapter 17?

5. The hedge fund Peloton had been started by what former Goldman executive, according to the author in Chapter 5?

(see the answer key)

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