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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. On what date does the author describe Dick Fuld holding a copy of the Wall Street Journal with an article on page C1 that was deemed by him “the worst betrayal of my career” in Chapter 6?
(a) January 25, 2008
(b) July 8, 2007
(c) June 4, 2008
(d) February 17, 2007

2. Who is described as Lehman Brothers’ spokesperson in Chapter 6?
(a) Margaret Law
(b) Kerrie Cohen
(c) Sheila Bair
(d) Erin Callan

3. Jamie Dimon was the Chief Executive Officer of what banking and financial services holding company in 2008?
(a) Wachovia
(b) JP Morgan
(c) Chemical Bank
(d) Merrill Lynch

4. Who did Scott Friedheim believe to be responsible for the leak to the Wall Street Journal in Chapter 6?
(a) Margaret Law
(b) Erin Callan
(c) Sheila Bair
(d) Kerrie Cohen

5. Who nominated Hank Paulson to his post in the federal cabinet?
(a) Dick Cheney
(b) Bill Clinton
(c) George W. Bush
(d) Barack Obama

Short Answer Questions

1. Where was Dick Fuld visiting when he received an urgent call from Henry Paulson regarding the collapse of the fifth largest investment bank in the U.S., according to the author in Chapter 1?

2. Hank Paulson and his staff prepared a secret plan for how to deal with the situation in Chapter 4. Their plan proposed that should the banks fail, the Treasury Department would purchase up to how many of the bad assets of the banks in order to stabilize the market?

3. In what year was Bob Willumstad outmaneuvered by Sandy Weill from Citigroup, according to the author in Chapter 8?

4. On what morning does the author describe Jamie Dimon awakening after an emergency meeting at the Federal Reserve Bank of New York with a dozen of his rival Wall Street CEOs in the beginning of the Prologue?

5. Where was the hedge fund Peloton based?

Short Essay Questions

1. How does Andrew Ross Sorkin explain the underlying cause of the sub-prime mortgage crisis of 2008 in the Prologue of Too Big to Fail?

2. How does the author describe John Thain’s rise in the financial world in Chapter 7?

3. What decisions came out of the meeting described in Chapter 9?

4. When was AIG’s Financial Products department developed, according to the author in Chapter 8? How successful was this department?

5. How was Hank Paulson’s rise to the post of Treasury Secretary described in Chapter 2?

6. What advice did Skip McGee give to Dick Fuld in Chapter 6? How did Fuld respond?

7. How is Dick Fuld’s career described in Chapter 1? Who did Fuld choose as his right-hand-man at Lehman Brothers?

8. How did Henry Paulson come about encountering the Goldman Sachs executives in Chapter 9?

9. How does the author describe AIG’s establishment and history in Chapter 8?

10. What executive meeting does the author describe in the opening of Chapter 9? Where did the meeting take place?

(see the answer keys)

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