Good morning.
JPMorgan CEO Jamie Dimon dominates the American financial world like no one has since, well, J.P. Morgan.
It was the bank’s namesake who became de facto central banker and bailed out the U.S. financial system in the panics of 1893 and 1907. His protégé Thomas Lamont tried to play a similar role in 1929, although with less success. And of course, Dimon himself starred in the 2008 crisis, buying both Bear Stearns and then Washington Mutual. So no one should be surprised it was Dimon who stepped up this week to buy the operations of failing First Republic Bank.
