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. Who was the founder of the company that would become AIG?

2. Who did Dick Fuld choose as his right-hand-man when he became CEO of a leading global financial services firm?

3. 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?

4. What refers to a security interest in real property held by a lender as a security for a debt?

5. Where did Dick Fuld receive his B.A. and B.S. in 1969?

Short Essay Questions

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

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

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

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. How does the author describe Bob Steel in Chapter 3? Why was Bob Steel in a tough position?

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

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

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

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

10. What was John Thain’s plan for turning around Merrill Lynch after his acceptance of the role as CEO in Chapter 7?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe and analyze the testimonies of Timothy Geithner, Bob Steel, Jamie Dimon, and Ben Bernanke before the Senate Banking Committee in 2008. How did the media interpret these testimonies during this time? What was the public response?

Essay Topic 2

Discuss Jim Cramer and CNBC, as well as the influence of journalism on Wall Street. How much of the dealings on Wall Street are based on media speculation? How powerful is this speculation? How respected is Jim Cramer in this regard?

Essay Topic 3

Discuss the history and role of the United States Federal Reserve and its involvement in the Great Recession of 2008. How did the Fed attempt to resolve the situation of the failing banks? Who was Chairman of the Federal Reserve in 2008? Who is Chairman today?

(see the answer keys)

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