"Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.."
"Dimon, who helms the largest US bank by assets, also came to the rescue in the 2008 financial crisis by buying Bear Stearns and some assets of Washington Mutual."
https://www.livemint.com/news/world/jpmorgan-chief-jamie-dimon-s-key-role-in-rescue-of-first-republic-bank-11679103476432.htmlKudos to the big banks for helping the flailing regional banks. Even Peck's bad boy, Wells Fargo, is ponying up in the effort. There are some winners out of the mess!
Comments
Mary ERDOES, JPM. RISK management in banking is essential. 3 recent bank failures (Silvergate, SVB, Signature) were partly from weaknesses in risk controls. The banking system as a whole is in much better shape now than during the GFC 2008-09.....JPM sent a delegation to UKRAINE in February because JPM is #1 debt issuer for Ukraine; it gave Ukraine 2-yr payment deferrals after the war started; it will also be involved heavily in post-war reconstruction and redevelopment (and some thought that JPM was pulling a stunt with its Ukraine trip).
https://ybbpersonalfinance.proboards.com/thread/416/barron-march-20-2023-2