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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. After much analysis, it was determined that after putting up all of its available assets for a short term loan, AIG would still be short by how much in Chapter 16?

2. What does CIC stand for?

3. Who is described in Chapter 11 as the Vice Chairman of Global Capital Markets at Morgan Stanley?

4. As the top bankers made their way home after the weekend of trying to solve the Lehman Brothers problem, they were called back to the Treasury for another emergency meeting involving what institution?

5. Chapter 15 begins with the author’s description of the combined efforts to save Lehman Brothers beginning on what date?

Short Essay Questions

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

2. How did John Mack respond to the announcement by Henry Paulson in Chapter 18?

3. On what date does the author open Chapter 19? What had happened to the stocks of Goldman Sachs and Morgan Stanley on this date?

4. What did Henry Paulson respond when solicited for help from Bob Diamond and Ken Lewis in Chapter 13?

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

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

7. What was the purpose of the meeting that Tim Geithner called in Chapter 16? Who was called to this meeting?

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe and analyze the testimonies of Timothy Geithner, Bob Steel, Jamie Dimon, and Ben Bernanke before the Senate Banking Committee in 2008. How did the media interpret these testimonies during this time? What was the public response?

Essay Topic 2

Discuss the biography and careers of Henry Paulson and George W. Bush. When did George W. Bush ask Henry Paulson to consider taking the position of U.S. Secretary of the Treasury? How did others perceive this nomination in Washington? What happened to Paulson’s stock in Goldman Sachs?

Essay Topic 3

Describe and discuss Susanne Craig’s article from the Wall Street Journal on June 4, 2008. What implications do you see in the article? Why did its publication enrage Dick Fuld? How did the article influence the future of Lehman Brothers’ stockholdings?

(see the answer keys)

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