Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves Test | Final 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. As part of the plan for dealing with AIG’s problems, Bob Willumstad would be replaced as CEO of AIG by who, according to the author in Chapter 16?
(a) Ed Liddy
(b) Robert Scully
(c) Eliot Spitzer
(d) Lewis Glucksman

2. What does KDB stand for?
(a) Korea Development Bank
(b) Krakow Derivatives Bank
(c) Kellogg Dynasty Bank
(d) Kenneth Davis Bank

3. Who was described as the “seasoned reporter” at CNBC in Chapter 12?
(a) Michael Cavanaugh
(b) David Faber
(c) Frank Zarb
(d) Charlie Scharf

4. When did Bob Willumstad accept the position of CEO of AIG?
(a) March, 2007
(b) August, 2006
(c) June, 2008
(d) November, 2005

5. Chapter 19 opens with the author’s description of what date?
(a) September 22, 2008
(b) October 11, 2008
(c) August 29, 2008
(d) October 2, 2008

Short Answer Questions

1. What is the common name for the Federal National Mortgage Association?

2. Who complained to Henry Paulson that short sellers were spreading false rumors to drive the panic after the government’s intervention with AIG in Chapter 17?

3. Who was described in Chapter 17 as “a thirty-eight-year-old governor at the Federal Reserve, whose office was a few doors down from Bernanke’s”?

4. 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?

5. In Chapter 16, who called JP Morgan and Goldman Sachs to come meet with the other Wall Street leaders to look at a solution for the AIG problem?

Short Essay Questions

1. What plan was announced by Henry Paulson and drafted into a bill in Chapter 18?

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

3. What were the principle causes for Dick Fuld’s increasing stress in the beginning of Chapter 12?

4. What was discussed in the meeting between Dick Fuld and Timothy Geithner in Chapter 10?

5. What did Henry Paulson respond when solicited for help from Bob Diamond and Ken Lewis in Chapter 13?

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

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

8. What events does the author describe taking place on September 10, 2008, in the opening of Chapter 13?

9. How did Timothy Geithner break the CEOs into groups in Chapter 14? What was their assignment?

10. What happened with the deal between Lehman Brothers and Barclays in Chapter 15?

(see the answer keys)

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