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

2. Senator Jim Bunning, who had sparred with Paulson over the summer, had gone so far as to call Hank Paulson what, according to the author in Chapter 12?
(a) A Capitalist
(b) A Communist
(c) A Libertarian
(d) A Socialist

3. Bob Steel was described as now being with what banking institution in Chapter 12?
(a) Citigroup
(b) Merrill Lynch
(c) Wells Fargo
(d) Wachovia

4. Who was the Assistant Secretary for Financial Markets of the Treasury in Chapter 11?
(a) Anthony Ryan
(b) Bob Steel
(c) Ron Beller
(d) Lloyd Blankfein

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

Short Answer Questions

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

2. Who is described in Chapter 11 as the Vice Chairman of Global Capital Markets at Morgan Stanley?

3. What analyze at Fox-Pitt Kelton is quoted in the New York Times in Chapter 13 as saying, “Some may worry that Treasury has taken on so much taxpayer burden they don’t have any remaining capacity to take on the burdens of Lehman”?

4. What is the address of the New York Federal Reserve Building?

5. What does CIC stand for?

Short Essay Questions

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

2. How was the meeting between Dick Fuld and John Mack described in Chapter 10?

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

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

5. What plan was revisited by Henry Paulson’s team in the aftermath of the AIG bailout in Chapter 17?

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

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

8. What did Henry Paulson decide to do when Fannie Mae and Freddie Mac continued to deteriorate in Chapter 11?

9. What was the outcome after the bailout of AIG, according to the author in Chapter 17?

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

(see the answer keys)

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