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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. What banker from Citigroup asked during the meeting of the top bankers at the New York Federal Reserve Building in Chapter 14, “I assume we are going to talk about AIG?”
(a) Vikram Pandit
(b) Larry Fink
(c) Charlie Scharf
(d) Greg Fleming

2. According to the author in Chapter 12, “Internally, JP Morgan’s operating committee trips to Washington were jokingly referred to as” what?
(a) OC/BC
(b) OC/DC
(c) MC/OC
(d) AC/OC

3. Regarding the problems at AIG, the plan that was finally put in place was for the government to take over 80% of AIG in exchange for a loan of how much?
(a) $25 billion
(b) $85 billion
(c) $150 billion
(d) $60 billion

4. What is the common name for the Federal National Mortgage Association?
(a) Ameriprise
(b) Wachovia
(c) Reserve Primary Fund
(d) Fannie Mae

5. Who did Dick Fuld ask to put in a word with the Korean bank for Lehman Brothers in Chapter 10?
(a) David Faber
(b) Jim Wilkinson
(c) Greg Fleming
(d) Hank Paulson

Short Answer Questions

1. Henry Paulson and his staff drafted a three-page bill that asked Congress for authority to spend how much money in Chapter 18?

2. According to the author in Chapter 15, what banking institution was still interested in the broker-dealer part of Lehman, and everyone thought a deal was all but completed until they heard news otherwise?

3. According to the author in Chapter 14, after the meeting at the New York Federal Reserve Building, “the Morgan Stanley bankers had two related tasks: self-preservation and” what?

4. What headline on the Wall Street Journal was nagging at John Mack in the beginning of Chapter 17?

5. Chapter 15 begins with the author’s description of the combined efforts to save Lehman Brothers beginning on what date?

Short Essay Questions

1. What did Ben Bernanke and Henry Paulson present to Congress as their solution to the banking problems in Chapter 17?

2. How much capital was AIG able to raise in Chapter 14? How much were they short?

3. On what date does the author open Chapter 19? What had happened to the stocks of Goldman Sachs and Morgan Stanley on this date?

4. How did the deal between Bank of America and Merrill Lynch influence John Mack’s actions in Chapter 15?

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

6. What was Dick Fuld’s last resort option that he discussed with Henry Paulson in Chapter 10?

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

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

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

10. What did Dick Fuld learn about the outcome of the governmental/CEO meeting in Chapter 15?

(see the answer keys)

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