How JPMorgan became banking's regular rescuer

First Republic was the third institution that JPMorgan's CEO Dimon had agreed to buy in a federally backed transaction, following its takeovers of Bear Stearns and Washington Mutual during the 2008 financial crisis. All three deals have helped defuse panics, but they have also benefited JPMorgan, which, with nearly $4 trillion in assets and 14% of all deposits in the United States, enjoys unparalleled reach inside the world's largest economy.

from News-Economic Times https://ift.tt/VB5SnW3