with reference to the The Lehman Brothers Bankruptcy

1. How does management operate in a crisis, especially when choosing between options that are all unfavorable?

2. What role did shadow banking play in Lehman's collapse?

3. Did Lehman have appropriate corporate governance structures and internal controls in place? Did these structures and controls operate as intended? Were they valuable in affecting a corporate culture that was compliant with the letter and spirit of the law?

4. What role did dissent play in the corporate context? Is it useful in influencing desirable outcomes? Does employee dissent present investigative opportunities for regulators?

5. Given the complex structures of institutions like Lehman, were the regulators adequately prepared to examine and assess its overall functioning? How can regulators ensure that they stay current on industry developments?

6. Were there gaps in the regulatory scheme? Have changes to the regulatory system adequately addressed these gaps?

7. With the benefit of hindsight, what do you think Lehman's management should have done differently?

8. What should the government regulators have done differently?