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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Who did Bob Willumstad refer to as the former Chairman at AIG that thought Willumstad’s position was all or nothing in Chapter 8?
(a) Skip McGee
(b) John Thain
(c) David Faber
(d) Frank Zarb

2. Warren Buffett is the primary shareholder, chairman and CEO of what American multinational conglomerate holding company?
(a) Wells Fargo
(b) BlackRock
(c) Westwood Capital LLC
(d) Berkshire Hathaway

3. What reporter wrote the story about Lehman that he described in Chapter 6 as “the worst betrayal of my career”?
(a) Colm Kelleher
(b) Susanne Craig
(c) Gerald Donini
(d) David Einhorn

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?
(a) Subprime lending
(b) Naked-shorting
(c) Derivatives
(d) Stocks

5. In the mid-1980s, Bob Willumstad was rising through the executive ranks of what financial corporation?
(a) Chemical Bank
(b) Northern Trust
(c) Westwood Capital LLC
(d) Barclays

Short Answer Questions

1. What title did Hank Paulson hold in 2008?

2. From which hedge fund mogul had Scott Friedheim recently bought a black GMC Denali outfitted with internet access and a chauffeur in Chapter 6?

3. Who was the Chief of Staff at Goldman Sachs in Chapter 9?

4. With what country had Dick Fuld been working for a month to secure capital for Lehman in Chapter 6?

5. Who was Dick Fuld’s mentor at the global financial services firm where he began working and later led the company for much of his career?

Short Essay Questions

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

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

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

4. 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?

5. Who was let go from Lehman Brothers during an executive committee meeting in Chapter 6?

6. How does the author describe AIG’s establishment and history in Chapter 8?

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

8. What was the impact of David Einhorn’s speech regarding Lehman Brothers’ assets in Chapter 5?

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

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

(see the answer keys)

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