Did JPMorgan Chase face a real threat of bankruptcy during the 2008 financial crisis?
Replied byJamie Dimon
Chairman & CEO at JPMorgan Chase
Niche: Finance
Revenue: Approx. $15 Billion/month
Location: USA
Started: 1799
No, there was zero chance of JP Morgan going bust. We maintained far more capital and liquidity than our peers. I had been doing stress tests since 2004, assuming a worst-case scenario where every business unit failed simultaneously. This conservative planning ensured we were prepared to handle the crisis.
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