2min chapter

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Is JPMorgan Chase Bank Helping the Banking Industry or Itself?

Ones and Tooze

CHAPTER

The Relationship Between Wall Street and the Fed

Is JP Morgan and the government in Washington actually coordinate on policy goals, or has it just happened to be like an overlap in their respective interests? I realize that's maybe a kind of semantic difference, but it does seem like relevant if we're describing them as sort of really cooperating or just sort of happenstance allies. In the recent banking crisis, it's clear that there has been cooperation, and the same was true in 2008. If you look at the call sheets from the cell phones of the leading actors on both sides, you'll see that they're basically talking several times a day during the crisis.

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