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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. What critic for Architecture Magazine, wrote of the New York Federal Reserve Building in 1927 that the three-year-old building had “a quality which, for lack of a better word, I can best describe as epic”?

2. Greg Curl informed Hank Paulson that Bank of America would agree to the deal regarding Lehman Brothers only if the government was willing to take how much of losses on Lehman’s assets in Chapter 14?

3. 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?

4. Who is described in Chapter 12 as “a former Republican representative from New York, whom Dimon had hired as executive vice president of global government relations and public policy”?

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

Short Essay Questions

1. What led to the cease of negotiations between Lehman and its potential investor in Chapter 11?

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

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

4. What did Dick Fuld learn about the outcome of the governmental/CEO meeting in Chapter 15?

5. What was discussed in the meeting between Dick Fuld and Timothy Geithner in Chapter 10?

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

7. With whom were Lehman Brothers in negotiations with in Chapter 11? Who led the negotiations?

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

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

10. What was the outcome after the bailout of AIG, according to the author in Chapter 17?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the biography and career of Dick Fuld and the origins and history of Lehman Brothers Holdings Inc. When and where was Lehman Brothers established? How did the institution come to be the fourth-largest investment bank in the U.S.? When did Fuld become CEO?

Essay Topic 2

Discuss the biography and career of John Thain and the history of Merrill Lynch. How did Merrill Lynch’s status as a “brokerage firm” differ from the statuses of banks? When was the company established? What was its standing in 2008 as the financial world anticipated the downfall of Lehman Brothers?

Essay Topic 3

Discuss Lehman Brothers’ portfolio and assets in 2008 and analyze the downfall of Lehman Brothers and their problems on the books prior to their file for bankruptcy. How did sub-prime mortgage trading influence the problems that Lehman faced in 2008?

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