Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves Quiz | Eight Week Quiz B

Andrew Ross Sorkin
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-5.

Multiple Choice Questions

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

2. Hank Paulson joined Goldman Sachs covering large industrial companies in the Midwest in what year?
(a) 1974
(b) 1971
(c) 1980
(d) 1967

3. 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?
(a) $100 billion
(b) $300 billion
(c) $500 billion
(d) $200 billion

4. What was the name of Lehman Brothers’ bomb-sniffing Labrador described in Chapter 5?
(a) Bella
(b) Sassy
(c) Ducky
(d) Tenaya

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

Short Answer Questions

1. Dick Fuld and who called Warren Buffett to ask him to consider investing in Lehman Brothers, according to the author in Chapter 2?

2. By what name is the regulation that “had been introduced by the Securities and Exchange Commission in 1938 to prevent investors from continually shorting a stock that was falling” called?

3. What word in finance refers to the act of making loans to people who may have difficulty maintaining the repayment schedule?

4. What was Dick Fuld nicknamed on Wall Street for his competitive nature?

5. According to the author in Chapter 5, Dick Fuld “said that he had become convinced that two of the nation’s most powerful financiers were largely responsible for both the short raid and rumor mongering.” Who were these financiers?

(see the answer key)

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