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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. According to the author in Chapter 1, Henry Paulson called and informed Dick Fuld that Bear Stearns collapsed and would be bought by what investment company?
(a) Goldman Sachs
(b) Merrill Lynch
(c) Citigroup
(d) JP Morgan

2. In what year did Hank Paulson become a partner at Goldman Sachs?
(a) 1989
(b) 1985
(c) 1982
(d) 1979

3. In the mid-1980s, Bob Willumstad was rising through the executive ranks of what financial corporation?
(a) Barclays
(b) Northern Trust
(c) Chemical Bank
(d) Westwood Capital LLC

4. What was the title of the article from the Wall Street Journal that Dick Fuld called “the worst betrayal of my career” in Chapter 6?
(a) Lehman Files for Bankruptcy, Merrill Sold, AIG Seeks Cash
(b) Lehman Ends $38 Billion Standoff
(c) Lehman Is Seeking Oversees Capital
(d) Lehman Brothers Holdings to Consider Monetization of Claims Vs. Holding Company

5. In what year was Bob Willumstad outmaneuvered by Sandy Weill from Citigroup, according to the author in Chapter 8?
(a) 1998
(b) 2005
(c) 2000
(d) 2003

Short Answer Questions

1. Dick Fuld expressed his belief that Lehman Brothers was under attack by what in Chapter 4?

2. Bob Willumstad was a third-generation son of immigrants from where?

3. What word from Chapter 5 derives from German and describes an all-motorized force concentration of tanks, infantry, artillery, combat engineers and air power?

4. Who was the Chief Financial Officer of Lehman Brothers that presented the earnings report for the first quarter of 2008?

5. Who was the Chairman of the Federal Reserve in 2008?

Short Essay Questions

1. What was the impact of David Einhorn’s speech regarding Lehman Brothers’ assets in Chapter 5?

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

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

4. How was Lehman Brothers impacted by the news of Bear Stearns’ collapse, according to the author in Chapter 1? What actions did the company take?

5. What was John Thain’s plan for turning around Merrill Lynch after his acceptance of the role as CEO in Chapter 7?

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

7. Who did Bob Willumstad replace as CEO of AIG? How does the author describe Hank Greenberg’s thoughts on this transition in Chapter 8?

8. For what reason was Hank Paulson angry when he heard about the JP Morgan and Bear Stearns deal in Chapter 2?

9. What was the secret plan that Hank Paulson developed for how to deal with the situation if Lehman Brothers or several banks should begin to fail in Chapter 4?

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

(see the answer keys)

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