‘House of Morgan’ Nurtured by Crisis ‘Mystified’ Senators
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon’s U.S. Senate testimony yesterday underscored how much more complex and government-dependent the bank has become, said historian Ron Chernow.
“What happens today with Jamie Dimon, because of the scale and scope of JPMorgan Chase, is a Main Street story,” said Chernow, who wrote the 1990 book “The House of Morgan.” In 1933, when then-CEO J.P. “Jack” Morgan Jr. testified before Congress, it “was in essence a Wall Street story.”