Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves Test | Mid-Book Test - Hard

Andrew Ross Sorkin
This set of Lesson Plans consists of approximately 150 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Lloyd Blankfein had assembled a meeting of the board of Goldman Sachs where in Chapter 9?

2. According to the author in Chapter 1, Henry Paulson called and informed Dick Fuld that Bear Stearns collapsed and that the U.S. Treasury had taken the step of backing how much in Bear Stearns assets to restore confidence in the market?

3. What was Dick Fuld nicknamed on Wall Street for his competitive nature?

4. Who is described as Lehman Brothers’ spokesperson in Chapter 6?

5. Who did Bob Willumstad refer to as the former Chairman at AIG that thought Willumstad’s position was all or nothing in Chapter 8?

Short Essay Questions

1. What executive meeting does the author describe in the opening of Chapter 9? Where did the meeting take place?

2. What was the secret plan that Hank Paulson developed for how to deal with the situation if Lehman Brothers or several banks should begin to fail in Chapter 4?

3. 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?

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

5. What meeting does the author describe Jamie Dimon attending in the Prologue of Too Big to Fail?

6. Why did Dick Fuld meet with other Lehman executives and Jim Cramer in Chapter 5? How did this meeting turn out?

7. How is Dick Fuld’s career described in Chapter 1? Who did Fuld choose as his right-hand-man at Lehman Brothers?

8. What decisions came out of the meeting described in Chapter 9?

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

10. How does the author describe AIG’s establishment and history in Chapter 8?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the biography and career of John Thain and the history of Merrill Lynch. How did Merrill Lynch’s status as a “brokerage firm” differ from the statuses of banks? When was the company established? What was its standing in 2008 as the financial world anticipated the downfall of Lehman Brothers?

Essay Topic 2

Discuss Dick Fuld’s reasons for meeting with Jim Cramer in Chapter 5. What did Fuld hope to accomplish in this meeting? Was he successful? Why or why not?

Essay Topic 3

Discuss Lehman Brothers’ portfolio and assets in 2008 and analyze the downfall of Lehman Brothers and their problems on the books prior to their file for bankruptcy. How did sub-prime mortgage trading influence the problems that Lehman faced in 2008?

(see the answer keys)

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