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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 complained to Henry Paulson that short sellers were spreading false rumors to drive the panic after the government’s intervention with AIG in Chapter 17?
(a) Martin Sullivan
(b) John Mack
(c) Marge Magner
(d) Sandy Weill

2. According to the author in Chapter 14, beneath the New York Federal Reserve Building lies a three-level vault that holds more than how much money’s worth of gold?
(a) $60 billion
(b) $10 billion
(c) $30 billion
(d) $100 billion

3. What does FDIC stand for?
(a) Financial Deposit Insurance Company
(b) Federal Deposit Insurance Corporation
(c) Fiscal Depreciation Investment Corporation
(d) Federal Denomination Investment Clause

4. Freddie Mac had a reported loss of how much in the morning when Henry Paulson met with the top bankers at the Treasury building in Chapter 11?
(a) $821 million
(b) $461 million
(c) $697 million
(d) $558 million

5. Who was the Assistant Secretary for Financial Markets of the Treasury in Chapter 11?
(a) Anthony Ryan
(b) Ron Beller
(c) Lloyd Blankfein
(d) Bob Steel

Short Answer Questions

1. Mitsubishi agreed to an investment of how much in Morgan Stanley in Chapter 18?

2. Who was described as the “seasoned reporter” at CNBC in Chapter 12?

3. What is the common name for the Federal National Mortgage Association?

4. Morgan Stanley had entered into talks with whom from CIC in Chapter 18?

5. Bob Steel was described as now being with what banking institution in Chapter 12?

Short Essay Questions

1. How did Timothy Geithner break the CEOs into groups in Chapter 14? What was their assignment?

2. What did JP Morgan plan in order to deal with the Lehman Brothers’ problem in Chapter 12?

3. What were the conclusions that were found by the CEOs in Chapter 16? How did they report this news to Geithner?

4. What did Henry Paulson decide to do when Fannie Mae and Freddie Mac continued to deteriorate in Chapter 11?

5. How did the deal between Bank of America and Merrill Lynch influence John Mack’s actions in Chapter 15?

6. What was the purpose of the meeting between the government officials and top CEOs in Chapter 14?

7. What plan was announced by Henry Paulson and drafted into a bill in Chapter 18?

8. What did Ben Bernanke and Henry Paulson present to Congress as their solution to the banking problems in Chapter 17?

9. How did Greg Fleming respond when he heard that Bank of America was considering buying Lehman Brothers in Chapter 13?

10. What happened with the deal between Lehman Brothers and Barclays in Chapter 15?

(see the answer keys)

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