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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. John Mack at Morgan Stanley knew that his company had to find an investment partner to stay alive in Chapter 18. They had been looking at the books of what banking institution but were not enthusiastic about what they found?

2. Jim Cracchiolo was described as the head of what institution in Chapter 17?

3. Who was the Chief Financial Officer of Morgan Stanley in Chapter 14?

4. What giant money market fund had “broken the buck a day earlier” in Chapter 17?

5. Where is Wells Fargo bank headquartered?

Short Essay Questions

1. What were the conclusions that were found by the CEOs in Chapter 16? How did they report this news to Geithner?

2. What plan was developed in order to address the problem of AIG in Chapter 16?

3. How much capital was AIG able to raise in Chapter 14? How much were they short?

4. How did John Mack respond to the announcement by Henry Paulson in Chapter 18?

5. What did Henry Paulson decide to do when Fannie Mae and Freddie Mac continued to deteriorate in Chapter 11?

6. What was the outcome after the bailout of AIG, according to the author in Chapter 17?

7. What plan was revisited by Henry Paulson’s team in the aftermath of the AIG bailout in Chapter 17?

8. What did Ben Bernanke and Henry Paulson present to Congress as their solution to the banking problems in Chapter 17?

9. What was the purpose of the meeting that Tim Geithner called in Chapter 16? Who was called to this meeting?

10. With whom were Lehman Brothers in negotiations with in Chapter 11? Who led the negotiations?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the impact of the fining of AIG by the federal regulators in 2007. How did this action affect the assets and standing of the company? How did leadership change in the company based on the violations? Why was the company fined?

Essay Topic 2

Discuss Lehman Brothers’ portfolio and assets in 2008 and analyze the downfall of Lehman Brothers and their problems on the books prior to their file for bankruptcy. How did sub-prime mortgage trading influence the problems that Lehman faced in 2008?

Essay Topic 3

Describe and analyze the testimonies of Timothy Geithner, Bob Steel, Jamie Dimon, and Ben Bernanke before the Senate Banking Committee in 2008. How did the media interpret these testimonies during this time? What was the public response?

(see the answer keys)

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