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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. John Thain went to Michael Bloomberg and proposed that Bloomberg buy back what percent of his company from the bank in Chapter 7?
(a) 20%
(b) 35%
(c) 10%
(d) 50%

2. 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 Brothers Holdings to Consider Monetization of Claims Vs. Holding Company
(b) Lehman Files for Bankruptcy, Merrill Sold, AIG Seeks Cash
(c) Lehman Is Seeking Oversees Capital
(d) Lehman Ends $38 Billion Standoff

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

4. Where did Hank Paulson earn his B.A. in English?
(a) Dartmouth College
(b) Yale University
(c) Harvard University
(d) Stanford University

5. What does AIG stand for?
(a) Anonymous Investors Group
(b) Apex Investments Guild
(c) American International Group
(d) American Investors Guild

Short Answer Questions

1. Dick Fuld was the CEO of what global financial services firm in March, 2008?

2. Who did John Thain replace in his position as CEO in 2007, as described by the author in Chapter 7?

3. What refers to a security interest in real property held by a lender as a security for a debt?

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

5. 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?

Short Essay Questions

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

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

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

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

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

6. 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?

7. To whom did John Thain turn for help with Merrill Lynch’s situation in Chapter 7? What response did he receive?

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

9. What was the result of spreading sub-prime mortgages across the spectrum of the investment world, according to the author in the Prologue?

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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