Ace banker Jamie Dimon on how JPMorgan did six months of work in two days and bought Bear Stearns in a night during the financial crisis in 2008

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When no one had foreseen the 2008 financial crisis, JPMorgan CEO Jamie Dimon summoned JPMorgan staff back to the office at 9 pm on a Thursday night due to an emergency, according to a recent podcast interview he appeared in.

Ace banker Jamie Dimon on how JPMorgan did six months of work in two days and bought Bear Stearns in a night during the financial crisis in 2008

JPMorgan CEO Jamie Dimon discussed in a recent podcast his work commitments during the 2008 financial crisis, when he was leading the company amid a major economic meltdown. In the podcast, Dimon claimed that he had to do even six months of work within a matter of two days in order to keep his company's ship steering in the right direction, while the US was going through an economic plunge, according to a Fortune report.

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Did Jamie Dimon oresee the 2008 financial crisis?

The 2008 financial crisis was one of the worst ever recorded economic periods for the US, and its impact was felt all across the world. Amid the economic crisis of that period, Dimon, who was handed over the responsibility of his company in prior, was tasked with keeping things afloat for the company.

However, Dimon said that he was well-prepared much before the 2008 financial crisis actually became a reality, as he had previously seen his father working through economic meltdowns during his professional as a broker.

Risk management was catered to by JPMorgan in the best way possible so that the company would not go down under, and extreme stress tests were conducted in advance so that it could be ensured that JPMorgan would survive the 2008 financial crisis, says the Fortue report.

FAQs:

Did the 2008 financial crisis affect the US?
US was one of the countries that was most affected by the financial crisis of 2008.

Who is the CEO of JPMorgan?
The current CEO of JPMorgan Chase and Co. is Jamie Dimon.

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