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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. How old was Scott Friedheim described by the author in Chapter 6?

2. After leaving Citigroup, Bob Willumstad went on to start what private-equity fund?

3. Who was the Chief Financial Officer of Lehman Brothers that presented the earnings report for the first quarter of 2008?

4. AIG began with what name in a small office in Shanghai in 1919?

5. Who did Hank Paulson succeed as Chief Executive of Goldman Sachs?

Short Essay Questions

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

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

3. How did Henry Paulson come about encountering the Goldman Sachs executives in Chapter 9?

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

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

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

7. For what reason was Hank Paulson angry when he heard about the JP Morgan and Bear Stearns deal in Chapter 2?

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the impact of the fining of AIG by the federal regulators in 2007. How did this action affect the assets and standing of the company? How did leadership change in the company based on the violations? Why was the company fined?

Essay Topic 2

Discuss the career and biography of Lloyd Blankfein and the history of Goldman Sachs. When did Blankfein replace Henry Paulson as CEO of the company? How did Goldman Sachs change under Blankfein’s leadership?

Essay Topic 3

Discuss the career of David Einhorn and his establishment of Greenlight Capital. When was Greenlight Capital established and how quickly did the company grow? What role did the hedge fund play in the derivatives market and in the downfall of 2008?

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