Fox Business Networks' Matt Egan writes that despite Dimon’s bold-faced claim, his bank is downright gargantuan, with $71 trillion in notional exposure to derivatives, $2.3 trillion in assets on its balance sheet and $1.1 trillion in deposits in its coffers.
In reality, JPMorgan is the textbook example of a firm that simply couldn’t be allowed to fail.
'The company is too big to fail - there’s no question in my mind', said banking analyst Dick Bove of Rochdale Securities.
J.P. Morgan is the largest U.S. bank by assets and one of the biggest lenders in the world.
In fact, the Basel-based Financial Stability Board lists J.P. Morgan as one of America’s eight systemically-important financial institutions, which are companies whose failure could ignite another financial crisis.
With $2.3 trillion in total assets as of the end of the first quarter, J.P. Morgan is more massive than Goldman Sachs ($951 billion), Morgan Stanley ($781 billion) and U.S. Bancorp ($341 billion) combined.
Doesn’t that mean J.P. Morgan is clearly too big to fail ?
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