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This quiz consists of 5 multiple choice and 5 short answer questions through Part 2: Chapter 8, Icahn-TWA: From Greenmailer to Manager-Owner.

Multiple Choice Questions

1. What was the purpose of Fred Joseph's meeting at the Barbizon Plaza in New York?
(a) pirating talent from some of the biggest firms on Wall Street
(b) gathering inside information to take back to Los Angeles
(c) consideration of all ideas, even the far-out and the flamboyant, instead of the conservative
(d) to undermine Milken and take over control of the Department

2. What did Milken's involvement in this business do for him personally?
(a) He was finally able to take the train.
(b) He finally gained respect from Burnham.
(c) He married a movie star.
(d) He became very wealthy.

3. For whom did Milken do trading?
(a) only for himself now because he was making so much money
(b) not only for customers, but also his own account and his group's account
(c) just for Drexel Burnham Lambert because of the volume of work
(d) only for family and friends to keep attention away from himself

4. Why did Drexel remain a privately-held company?
(a) Joseph refused to allow it to happen.
(b) They did not want outsiders to get in on their business.
(c) Milken could then retain his need for secrecy.
(d) It was too much of a temptation for a hostile takeover.

5. By 1981, what was Drexel responsible for?
(a) moving Wall Street to Los Angeles
(b) engineering most of the hostile takeovers
(c) almost all of the junk bonds in the market
(d) leading the field in high interest bonds

Short Answer Questions

1. What was one thing Lowell Milken did for the company?

2. Who becomes Milken's ally and public face in 1974?

3. When he heard on the radio about a change in options to buy stocks, what did Milken do that saved Drexel Burnham Lambert?

4. Where did Milken and his wife buy a house?

5. How much money and how fast did Drexel raise for the Phillips Petroleum proxy fight?

(see the answer key)

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