Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves Test | Mid-Book Test - Medium

Andrew Ross Sorkin
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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. 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) Naked-shorting
(b) Stocks
(c) Derivatives
(d) Subprime lending

2. John Thain is described in Chapter 7 as having worked for Henry Paulson at Goldman Sachs and then as CEO of what company?
(a) The New York Stock Exchange
(b) The International Monetary Fund
(c) Berkshire Hathaway
(d) Citigroup

3. Who was Bob Willumstad’s partner in starting a private-equity fund after he left Citigroup?
(a) Marge Magner
(b) Scott Friedheim
(c) Sandy Weill
(d) Gerald Donini

4. Bob Willumstad was a third-generation son of immigrants from where?
(a) Iceland
(b) Norway
(c) Germany
(d) Poland

5. Who was described as the Chief Financial Officer at Goldman Sachs in Chapter 9?
(a) David Viniar
(b) Joe Gregory
(c) Andrew Gowers
(d) Lloyd Blankfein

Short Answer Questions

1. The assignment of Jamie Dimon and a dozen of his rival CEOs at the emergency meeting at the Federal Reserve Bank of New York was to come up with a plan to save what company, according to the author in the Prologue?

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

3. 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?

4. From which hedge fund mogul had Scott Friedheim recently bought a black GMC Denali outfitted with internet access and a chauffeur in Chapter 6?

5. Lloyd Blankfein had assembled a meeting of the board of Goldman Sachs where in Chapter 9?

Short Essay Questions

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

2. How is Timothy Geithner characterized in Chapter 3? What position did he hold at the Federal Reserve?

3. What did Jamie Dimon inform his executive staff after attending the meeting described in the Prologue?

4. How does the author describe Bob Steel in Chapter 3? Why was Bob Steel in a tough position?

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

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

7. Why did Dick Fuld meet with other Lehman executives and Jim Cramer in Chapter 5? How did this meeting turn out?

8. Who did Bob Steel contact to discuss the Lehman Brothers problem in Chapter 4? What response did he get?

9. What was Hank Paulson’s first concern regarding the possibility of failure of Lehman Brothers, according to the author in Chapter 4?

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

(see the answer keys)

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