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
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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 Bob Willumstad’s partner in starting a private-equity fund after he left Citigroup?

2. According to the author in Chapter 6, Scott Friedheim was an executive in whose mold?

3. Timothy Geithner worked for the Treasury Department and what organization prior to his appointment as President of the Federal Reserve Bank of New York?

4. Gerald Donini asserts when speaking with Jim Cramer in Chapter 5 that he felt the real problem in the marketplace wasn’t short-selling, but what?

5. Dick Fuld expressed his belief that Lehman Brothers was under attack by what in Chapter 4?

Short Essay Questions

1. Who did Bob Steel contact to discuss the Lehman Brothers problem in Chapter 4? What response did he get?

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

3. What advice did Skip McGee give to Dick Fuld in Chapter 6? How did Fuld respond?

4. How is Timothy Geithner characterized in Chapter 3? What position did he hold at the Federal Reserve?

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

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

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

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

9. How does Andrew Ross Sorkin explain the underlying cause of the sub-prime mortgage crisis of 2008 in the Prologue of Too Big to Fail?

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

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 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 Jamie Dimon’s role as CEO of JP Morgan and his influences in the 2008 financial crisis. How did Dimon respond to the news he received in the Prologue of the narrative? Why?

(see the answer keys)

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