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How Jamie Dimon Kept JPMorgan Standing in 2008
In this episode of The CEO Diary, Lucas and Luna dig into Jamie Dimon's leadership during the 2008 financial crisis. They focus on one specific decision: the acquisition of Bear Stearns in March 2008, when JPMorgan bought a failing investment bank for $2 a share, with Federal Reserve backing. Lucas breaks down the numbers — the $30 billion of Bear Stearns assets JPMorgan took on, the government's $29 billion guarantee — and explains why Dimon's willingness to act fast, his deep understanding of the balance sheet, and his focus on integration set the stage for JPMorgan to emerge…
The skinny
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