The Third Arm of the Fed

I think that, you know, he is in a difficult position because one Silicon Valley bank failed. And while this is good for Morgan in the short term, more deposits, banking chaos does not serve his long-term interest. He's pragmatic enough to understand that and has led the effort to support first Republic bank from winding up going like some of these other banks have as well too. So he is assuming the role of the namesake of his bank, JP Morgan himself. Just like JP Morgan did in the 1907 stock market panic.