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. What British heist movie does the author describe Dick Fuld and the Lehman team watching as they returned from Seoul in Chapter 11?
(a) The Bank Job
(b) Snatch
(c) Dog Day Afternoon
(d) Rififi

2. 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?
(a) Timothy Geithner
(b) David Goldfarb
(c) Jim Cramer
(d) David Einhorn

3. After the weekend of meetings of the top bankers and the Fed, they were told that no solution had been found and that the government strongly urged Lehman Brothers to do what in Chapter 15?
(a) Accept a government loan
(b) Merge with another bank
(c) File for bankruptcy
(d) Liquidate its assets

4. Who was described by the author in Chapter 14 as Bank of America’s President of Global Corporate and Investment Banking?
(a) John F. Rogers
(b) Brian Moynihan
(c) Bob Diamond
(d) Eddie Lampert

5. Who is described in Chapter 12 as “a former Republican representative from New York, whom Dimon had hired as executive vice president of global government relations and public policy”?
(a) Rick Lazio
(b) Jim Bunning
(c) Michael Bloomberg
(d) David Einhorn

Short Answer Questions

1. 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?

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

3. Who was described as the head of Northern Trust in Chapter 17?

4. Who did Jamie Dimon take with him to meet with Ben Bernanke in Chapter 12?

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

Short Essay Questions

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

2. With whom were Lehman Brothers in negotiations with in Chapter 11? Who led the negotiations?

3. How did Greg Fleming respond when he heard that Bank of America was considering buying Lehman Brothers in Chapter 13?

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

5. What did JP Morgan plan in order to deal with the Lehman Brothers’ problem in Chapter 12?

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

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

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

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

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

(see the answer keys)

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