Jamie Dimon’s bank managed to emerge from the financial crisis in pretty good form, especially compared to a lot of its peers.The consensus is that the reason JP Morgan came out relatively unscathed is because the bank was smart, risk-conscious and was less exposed to the sub-prime crisis than the other banks.
But some say that actually, it’s because they were slow on the uptake.
There’s another side to the popular narrative about Dimon the Good and how he outperformed his peers by steering clear of things like subprime-backed mortgage securities.
In reality, the main reason JPMorgan didn’t load up on subprime debt as much as other banks was because it was slow to enter the market, critics say.
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