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. What was the title of the article from the Wall Street Journal that Dick Fuld called “the worst betrayal of my career” in Chapter 6?

2. Dick Fuld and who called Warren Buffett to ask him to consider investing in Lehman Brothers, according to the author in Chapter 2?

3. John Thain was described as the CEO of which investment banking and wealth management firm in Chapter 7?

4. Who was the Chairman of the Federal Reserve in 2008?

5. Bob Steel called which old friend at Barclays Bank in London to ask if Barclays might be interested in purchasing Lehman in Chapter 4?

Short Essay Questions

1. How was Hank Paulson’s rise to the post of Treasury Secretary described in Chapter 2?

2. To whom did John Thain turn for help with Merrill Lynch’s situation in Chapter 7? What response did he receive?

3. What information about Lehman Brothers had been leaked to the Wall Street Journal in Chapter 6? Who was suspected of the leak?

4. When was AIG’s Financial Products department developed, according to the author in Chapter 8? How successful was this department?

5. How does the author describe Jamie Dimon’s position in the Bear Stearns deal in Chapter 3?

6. 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?

7. How does the author describe David Einhorn in Chapter 5?

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

9. What suggestion did Hank Paulson make to Dick Fuld regarding Lehman Brothers’ holdings in Chapter 2? How did Fuld respond?

10. Who did Bob Willumstad replace as CEO of AIG? How does the author describe Hank Greenberg’s thoughts on this transition in Chapter 8?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss Dick Fuld’s objectives and obstacles in Chapter 6. How did Fuld feel about letting go of his top executives? Who made this suggestion to Fuld? How did Erin Callan and Joe Gregory respond to the situation?

Essay Topic 2

Discuss Henry Paulson’s plea to Congress in order to save Freddie Mac and Fannie Mae. What were the results of this plea? How did the public respond to the bailouts? What did the bailouts entail?

Essay Topic 3

Discuss the biography and career of Dick Fuld and the origins and history of Lehman Brothers Holdings Inc. When and where was Lehman Brothers established? How did the institution come to be the fourth-largest investment bank in the U.S.? When did Fuld become CEO?

(see the answer keys)

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