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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. On what date did Lloyd Blankfein arrive in the city where the Goldman Sachs board meeting was to take place in Chapter 9?

2. In the mid-1980s, Bob Willumstad was rising through the executive ranks of what financial corporation?

3. David Einhorn was the founder and president of what hedge fund?

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. Who did John Thain replace in his position as CEO in 2007, as described by the author in Chapter 7?

Short Essay Questions

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

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

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

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

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

7. When was AIG’s Financial Products department developed, according to the author in Chapter 8? How successful was this department?

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

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

10. How did Henry Paulson come about encountering the Goldman Sachs executives in Chapter 9?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss Dick Fuld’s objectives and obstacles in Chapter 6. How did Fuld feel about letting go of his top executives? Who made this suggestion to Fuld? How did Erin Callan and Joe Gregory respond to the situation?

Essay Topic 2

Discuss the career and biography of Lloyd Blankfein and the history of Goldman Sachs. When did Blankfein replace Henry Paulson as CEO of the company? How did Goldman Sachs change under Blankfein’s leadership?

Essay Topic 3

Discuss the negotiations between Lehman Brothers and JP Morgan in Chapter 12. Why did JP Morgan decide to ask for more collateral from Lehman? What impact did this have on Lehman’s assets and its future? What role did Steven Black play in the negotiations?

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