Rating: 4 out of 5 stars
4/5
Audiobook10 hours
JPMorgan's Fall and Revival: How the Wave of Consolidation Changed America's Premier Bank
Written by Nicholas P. Sargen
Narrated by Steve Menasche
Rating: 4.5 out of 5 stars
4.5/5
()
About this audiobook
This book tells the untold story of how JPMorgan became a universal bank in the 1980s-1990s and the events leading to it being acquired by Chase in 2000. It depicts the challenges Morgan's leaders, Lew Preston and Dennis Weatherstone, confronted when the firm's business model was disrupted by the developing country debt crisis, up to its current management with Jamie Dimon.
This first-hand account explores whether Morgan could have stayed independent had its leaders pursued the strategic plan that called for it to make targeted acquisitions in areas where it had well-established businesses. Instead, in the mid-1990s, it went from being the hunter to the hunted. Rival banks that had been burdened by bad loans to developing countries and commercial real estate capitalized on rising share prices during the tech boom to acquire other institutions. Meanwhile, Morgan's profits and share price lagged, which left it vulnerable.
During this time, all of the leading financial institutions struggled to change their business models. In the end, no US money center bank was able to become a universal bank on its own. What ensued was a growing concentration of financial assets in a handful of institutions that was the precursor to the 2008 financial crisis, which is explored further using Morgan as a lens, in this must-listen book.
This first-hand account explores whether Morgan could have stayed independent had its leaders pursued the strategic plan that called for it to make targeted acquisitions in areas where it had well-established businesses. Instead, in the mid-1990s, it went from being the hunter to the hunted. Rival banks that had been burdened by bad loans to developing countries and commercial real estate capitalized on rising share prices during the tech boom to acquire other institutions. Meanwhile, Morgan's profits and share price lagged, which left it vulnerable.
During this time, all of the leading financial institutions struggled to change their business models. In the end, no US money center bank was able to become a universal bank on its own. What ensued was a growing concentration of financial assets in a handful of institutions that was the precursor to the 2008 financial crisis, which is explored further using Morgan as a lens, in this must-listen book.
Related to JPMorgan's Fall and Revival
Related audiobooks
Money Games: The Inside Story of How American Dealmakers Saved Korea's Most Iconic Bank The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything Rating: 4 out of 5 stars4/5VC: An American History Rating: 4 out of 5 stars4/5Borrowed Time: Two Centuries of Booms, Busts, and Bailouts at Citi Rating: 5 out of 5 stars5/5The Fed and Lehman Brothers: Setting the Record Straight on a Financial Disaster Rating: 5 out of 5 stars5/5Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism Rating: 4 out of 5 stars4/5The Capital One Story: How the Upstart Financial Institution Charged Toward Market Leadership Rating: 4 out of 5 stars4/5The Art of Vulture Investing: Adventures in Distressed Securities Management Rating: 5 out of 5 stars5/5The New Financial Deal: Understanding the Dodd-Frank Act and Its (Unintended) Consequences Rating: 3 out of 5 stars3/5Investment Banking Explained, Second Edition: An Insider's Guide to the Industry Rating: 5 out of 5 stars5/5Zombie Banks: How Broken Banks and Debtor Nations Are Crippling the Global Economy Rating: 0 out of 5 stars0 ratingsOther Peoples' Money and How The Bankers Use It Rating: 4 out of 5 stars4/5Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff Rating: 4 out of 5 stars4/5Exile on Wall Street: One Analyst's Fight to Save the Big Banks from Themselves Rating: 4 out of 5 stars4/5Fatal Risk: A Cautionary Tale of AIG's Corporate Suicide Rating: 3 out of 5 stars3/5First Responders: Inside the U.S. Strategy for Fighting the 2007-2009 Global Financial Crisis Rating: 5 out of 5 stars5/5Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation Rating: 4 out of 5 stars4/5Comeback: America's New Economic Boom Rating: 4 out of 5 stars4/5The New Elite: Inside the Minds of the Truly Wealthy Rating: 4 out of 5 stars4/5Busted: Life Inside the Great Mortgage Meltdown Rating: 3 out of 5 stars3/5The Sages: Warren Buffett, George Soros, Paul Volcker, and the Maelstrom of Markets Rating: 4 out of 5 stars4/5Investment Banking Crash Course Rating: 5 out of 5 stars5/5House of Cards: A Tale of Hubris and Wretched Excess on Wall Street Rating: 4 out of 5 stars4/513 Bankers: The Wall Street Takeover and the Next Financial Meltdown Rating: 4 out of 5 stars4/5A History of Canadian Imperial Bank of Commerce: Volume 5 1973–1999 Rating: 0 out of 5 stars0 ratingsThe Day the Markets Roared: How a 1982 Forecast Sparked a Global Bull Market Rating: 4 out of 5 stars4/5Financial Cold War: A View of Sino-US Relations from the Financial Markets Rating: 5 out of 5 stars5/5Inside the House of Money, Revised and Updated: Top Hedge Fund Traders on Profiting in the Global Markets Rating: 4 out of 5 stars4/5
Corporate & Business History For You
Game Wizards: The Epic Battle for Dungeons & Dragons Rating: 5 out of 5 stars5/5The Toyota Way (Second Edition): 14 Management Principles from the World's Greatest Manufacturer Rating: 4 out of 5 stars4/5The Idea Factory: Bell Labs and the Great Age of American Innovation Rating: 4 out of 5 stars4/5Good to Great Rating: 5 out of 5 stars5/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5A Secret History of Brands: The Dark and Twisted Beginnings of the Brand Names We Know and Love Rating: 4 out of 5 stars4/5Pharma: Greed, Lies, and the Poisoning of America Rating: 4 out of 5 stars4/5Nazi Billionaires: The Dark History of Germany's Wealthiest Dynasties Rating: 5 out of 5 stars5/5Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money Rating: 4 out of 5 stars4/5An Ugly Truth: Inside Facebook’s Battle for Domination Rating: 4 out of 5 stars4/5Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company Rating: 4 out of 5 stars4/5Grinding It Out: The Making of McDonald's Rating: 4 out of 5 stars4/5Lead Like Walt: Discover Walt Disney's Magical Approach to Building Successful Organizations Rating: 5 out of 5 stars5/5Becoming Trader Joe: How I Did Business My Way and Still Beat the Big Guys Rating: 5 out of 5 stars5/5The Hidden History of Monopolies: How Big Business Destroyed the American Dream Rating: 4 out of 5 stars4/5House of Cards: A Tale of Hubris and Wretched Excess on Wall Street Rating: 4 out of 5 stars4/5Secret Formula: The Inside Story of How Coca-Cola Became the Best-Known Brand in the World Rating: 4 out of 5 stars4/5The Pixar Touch: The Making of a Company Rating: 5 out of 5 stars5/5More Money Than God: Hedge Funds and the Making of a New Elite Rating: 4 out of 5 stars4/5American Icon: Alan Mulally and the Fight to Save Ford Motor Company Rating: 4 out of 5 stars4/5The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend Rating: 4 out of 5 stars4/5Amazon Unbound: Jeff Bezos and the Invention of a Global Empire Rating: 5 out of 5 stars5/5No Filter: The Inside Story of Instagram Rating: 4 out of 5 stars4/5The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions Rating: 0 out of 5 stars0 ratingsHit Refresh: The Quest to Rediscover Microsoft's Soul and Imagine a Better Future for Everyone Rating: 4 out of 5 stars4/5
Related podcast episodes
Disney’s Bob Iger: How acquisitions become an ecosystem, part 1 0% found this document usefulBlackberry vs iPhone | CrackBerry | 1 0% found this document usefulThe dark side of business email attacks. 0% found this document usefulHow do we stop high inflation?: Rising prices are wreaking havoc, but there are no easy solutions 0% found this document usefulHarvard Business Review at 100 with Adi Ignatius 0% found this document usefulHilton vs Marriott | Check-In | 1 0% found this document usefulMcDonald’s vs Burger King - Super Fan Supernova | 6 0% found this document usefulBrad Jacobs Plans to Make Billions in the Building Supply Industry 0% found this document usefulLyn Alden: The Monetary Order Is Broken 0% found this document usefulGucci vs Louis Vuitton | All in the Family | 1 100% found this document usefulDavid Donaldson: Sherlock of Trade: MIT’s Dave Donaldson makes no assumptions about trade that are not based on facts. 100% found this document usefulThe Art of Money Laundering 0% found this document useful
Related articles
Are Stocks Heading For A Fall? MoneyWeekArticle
Are Stocks Heading For A Fall?
Sep 17, 2021
2 min readA Financial Mastermind MaximArticle
A Financial Mastermind
Oct 20, 2020
8 min readLessons From a Meltdown | Books India TodayArticle
Lessons From a Meltdown | Books
Jul 12, 2019
The bankruptcy filing by Lehman Brothers on September 15, 2008, had an even bigger impact on the industrial world than the Great Depression of 1929-39. It also gave rise to a record number of books studying the causes, impact and regulatory lacunae t
2 min readA Decade After A Fearful Market Hit Bottom, Stock Bulls Continue Historic Run NPRArticle
A Decade After A Fearful Market Hit Bottom, Stock Bulls Continue Historic Run
Dec 30, 2019
2 min readBank Runs Used To Be Slow. The Digital Era Sped Them Up The IndependentArticle
Bank Runs Used To Be Slow. The Digital Era Sped Them Up
Mar 15, 2023
4 min readThe Company That Nearly Bankrupted America The Saturday Evening PostArticle
The Company That Nearly Bankrupted America
Jan 1, 2019
3 min readHumanitarian Raid Mother JonesArticle
Humanitarian Raid
Jan 1, 2016
15 min readThe U.S. Doesn’t Deserve the World Bank Presidency The AtlanticArticle
The U.S. Doesn’t Deserve the World Bank Presidency
Feb 12, 2019
4 min readCRISIS MANAGEMENT: Lessons From the C-Suite Rotman ManagementArticle
CRISIS MANAGEMENT: Lessons From the C-Suite
May 1, 2021
11 min readFrom The Editor... MoneyWeekArticle
From The Editor...
Dec 8, 2023
2 min readTHE KING of CONTENT MaximArticle
THE KING of CONTENT
Jun 18, 2019
4 min readThe End of Silicon Valley Bank—And a Silicon Valley Myth The AtlanticArticle
The End of Silicon Valley Bank—And a Silicon Valley Myth
Mar 14, 2023
4 min readThe Looming Bank Collapse The AtlanticArticle
The Looming Bank Collapse
Jun 10, 2020
14 min readCapitalism Doesn’t Have to Be This Way The AtlanticArticle
Capitalism Doesn’t Have to Be This Way
May 21, 2021
6 min readBook Of The Week MoneyWeekArticle
Book Of The Week
Sep 16, 2022
3 min readWhat Happened To The American Dream? 'Transaction Man' Aims To Explain NPRArticle
What Happened To The American Dream? 'Transaction Man' Aims To Explain
Sep 14, 2019
Nicholas Lemann's book seeks to put into context the turn that, little more than a decade ago, led to a caving economy — and takes a look at where things have gone since.
4 min readSurviving A Financial Crisis RECOIL OFFGRIDArticle
Surviving A Financial Crisis
Oct 5, 2018
12 min readPortfolio For The Common Man Manhattan InstituteArticle
Portfolio For The Common Man
Jan 17, 2019
5 min readAs China's Property Crisis Grows, Can Nationalisation Help Rebalance Its Economy? This Week in AsiaArticle
As China's Property Crisis Grows, Can Nationalisation Help Rebalance Its Economy?
Sep 4, 2022
The collapse of the decade-long property boom in China - triggered by a government crackdown on overleveraged property developers in early 2021 - has led to a series of defaults by a number of the country's major developers. More worryingly, the cris
4 min readWhy Banks Keep Failing The AtlanticArticle
Why Banks Keep Failing
Apr 30, 2023
5 min readThose Who Don’t Learn From Financial Crises Are Doomed to Repeat Them The AtlanticArticle
Those Who Don’t Learn From Financial Crises Are Doomed to Repeat Them
Sep 19, 2017
6 min readWhat We Learned From The Financial Crisis — And What We've Already Forgotten Los Angeles TimesArticle
What We Learned From The Financial Crisis — And What We've Already Forgotten
Sep 6, 2018
When calamity strikes - especially avoidable calamity - the human instinct is to look for the silver lining, often by calling the event a "teachable moment." Consider the most profound economic calamity of the last nine decades, the Great Recession t
6 min readDon't Give Up on This Wild Bull Market KiplingerArticle
Don't Give Up on This Wild Bull Market
May 31, 2018
I get a kick out of the investment experts who are now telling us that making money in stocks isn't going to be easy anymore. For instance, Howard Marks of Oaktree Capital proclaimed earlier this year: "The easy money has been made." I hate to pick
3 min readIs The IMF Fit For Purpose? Guardian WeeklyArticle
Is The IMF Fit For Purpose?
Nov 11, 2022
15 min readIs Trump’s Russian Secret Hiding in Deutsche Bank? NewsweekArticle
Is Trump’s Russian Secret Hiding in Deutsche Bank?
Dec 29, 2017
21 min readFrom The Editor... MoneyWeekArticle
From The Editor...
Mar 22, 2024
2 min readThe Best Trades In History: Betting On A Bailout MoneyWeekArticle
The Best Trades In History: Betting On A Bailout
Sep 9, 2022
Bill Gross (pictured) was born in Middletown, Ohio, in 1944, and graduated from Duke University in North Carolina. After reading a book on card counting he spent a summer in Las Vegas, making $10,000 on blackjack before spending three years in the Na
1 min readMeme Stocks: A Cautionary Tale Rotman ManagementArticle
Meme Stocks: A Cautionary Tale
Sep 1, 2023
MOB MENTALITY. Groupthink. Pack behaviour. General strikes. Sports events. All are forms of herd behaviour, which occurs whenever a large number of unconnected people act in the same way at the same time — sometimes with direction from others, someti
7 min readIt's Time Hong Kong Got A US Sanctions-busting Stock Index This Week in AsiaArticle
It's Time Hong Kong Got A US Sanctions-busting Stock Index
Dec 14, 2020
4 min readLucky You! NZ MarketingArticle
Lucky You!
Apr 14, 2024
3 min read
Reviews for JPMorgan's Fall and Revival
Rating: 4.666666666666667 out of 5 stars
4.5/5
3 ratings2 reviews
- Rating: 4 out of 5 stars4/5Interesting look into one of the world's biggest banks. This isn't a critical look but more of a lookover from a friend. There are critiques but overall look is certainly friendly which is likely required for the amount of access the author received. We'll done but not very entertaining as it reads slightly more casual than a textbook.
- Rating: 5 out of 5 stars5/5Very nice book/ audiobook. Quite a comprehensive narration of JP morgan's history. Even giants do fall.