In the midst of the most disastrous economic climate of Wall Street’s history, one executive has weathered the storm more deftly than any other: Jamie Dimon, chairman and CEO of JPMorgan Chase. In 2008, while Dimon’s competitors watched their companies crumble, JPMorgan not only survived, it made an astonishing $5 billion profit. Dimon’s continued triumph in the face of an industry-wide meltdown has made him a paragon of finance. In Last Man Standing, award-winning journalist Duff McDonald provides an unprecedented and deeply personal look at the extraordinary figure behind JPMorgan’s success. Using countless hours of interviews with Dimon and his full circle of friends, family, and colleagues, this definitive biography is by far the most comprehensive portrait of the man known as the Savior of Wall Street. Now, in an updated prologue, McDonald offers insight into the future of Wall Street and how Dimon will overcome the challenge of aggressive new regulation from Washington—and how he plans to continue to thrive as the world’s preeminent banker.
The House of Dimon: How JPMorgan's Jamie Dimon Rose to the Top of the Financial World
A behind-the-scenes look at Wall Street's top banker Following the eleventh-hour rescue of Bear Stearns by JP Morgan, Jamie Dimon's profile reached stratospheric levels. And while the deals and decisions he's made have usually turned out to be the right ones, his journey to the top of the financial world has been anything but easy. Now, in The House of Dimon, former business journalist Patricia Crisafulli goes behind the scenes to recount the amazing events that have shaped Dimon's career, from his rise to prominence as Sandy Weill's protŽgŽ at Citigroup to the drama surrounding his purchase of Bear Stearns and Washington Mutual. Each step of the way, this engaging book provides insider accounts of how Dimon successfully acquired and integrated companies, created efficiencies, and grew bottom-line results as the consummate hands-on manager. Includes interviews with Dimon himself, Sandy Weill, and colleagues who've known Dimon over the course of his career Shows how Dimon's management style and talent for taking calculated risks have allowed him to excel where many others have failed Places Dimon in the context of contemporary Wall Street, an environment that has destroyed several top CEOs During one of the most difficult and tumultuous periods in Wall Street history, Jamie Dimon has survived and thrived. The House of Dimon reveals how he's done it and explores what lies ahead for Dimon, as he attempts to grow JPMorgan in the face of the unrelenting pressures of Wall Street.
All the Presidents' Bankers: The Hidden Alliances that Drive American Power
Who rules America?All the Presidents' Bankers is a groundbreaking narrative of how an elite group of men transformed the American economy and government, dictated foreign and domestic policy, and shaped world history.Culled from original presidential archival documents, All the Presidents' Bankers delivers an explosive account of the hundred-year interdependence between the White House and Wall Street that transcends a simple analysis of money driving politics—or greed driving bankers.Prins ushers us into the intimate world of exclusive clubs, vacation spots, and Ivy League universities that binds presidents and financiers. She unravels the multi-generational blood, intermarriage, and protégé relationships that have confined national influence to a privileged cluster of people. These families and individuals recycle their power through elected office and private channels in Washington, DC.All the Presidents' Bankers sheds new light on pivotal historic events—such as why, after the Panic of 1907, America's dominant bankers convened to fashion the Federal Reserve System; how J. P. Morgan's ambitions motivated President Wilson during World War I; how Chase and National City Bank chairmen worked secretly with President Roosevelt to rescue capitalism during the Great Depression while J.P. Morgan Jr. invited Roosevelt's son yachting; and how American financiers collaborated with President Truman to construct the World Bank and IMF after World War II.Prins divulges how, through the Cold War and Vietnam era, presidents and bankers pushed America's superpower status and expansion abroad, while promoting broadly democratic values and social welfare at home. But from the 1970s, Wall Street's rush to secure Middle East oil profits altered the nature of political-financial alliances. Bankers' profit motive trumped heritage and allegiance to public service, while presidents lost control over the economy—as was dramatically evident in the financial crisis of 2008.This unprecedented history of American power illuminates how the same financiers retained their authoritative position through history, swaying presidents regardless of party affiliation. All the Presidents' Bankers explores the alarming global repercussions of a system lacking barriers between public office and private power. Prins leaves us with an ominous choice: either we break the alliances of the power elite, or they will break us.
The Case for Bitcoin: Why JPMorgan CEO Jamie Dimon Is Dead Wrong - And Why Bitcoin Is the Greatest 'Store of Value' Ever Invented in Human History!
In this follow-up to his best-selling Bitcoin Explained Simply, industry expert Mark Jeffrey now makes an argument for what Bitcoin actually means: how it will disrupt banking and other industries and why it is the greatest "store of value" ever invented. The very notion of what we think of as "money" is about to change radically. Imagine programmable money, smart contracts, perfect voting, third-party-less escrow of titles and deeds, side chains (other block chains that interact with Bitcoin's main block chain), and the ability to be your own bank. And while Bitcoin's "store of value" characteristics are expanding and strengthening due to technological advances, other new technologies are simultaneously diminishing the "store of value" characteristics of gold and traditional currencies. In short: Gold is Bronze Age; Bitcoin is Silicon Age. The Bitcoin network is already the world's largest supercomputer by several orders of magnitude: It is 256 times faster than all the top 500 supercomputers in the world...combined. And it's growing exponentially. As a result, Bitcoin is doing to banks what Uber did to taxis. Bitcoin is likely the most important invention since the Internet itself. This book will tell you what that means and what it will change in the years ahead. Mark Jeffrey is an award-winning serial entrepreneur of innovative technology companies backed by Tier One investors. He has co-founded five companies and written eight books.
King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone
The story of Steve Schwarzman, Blackstone, and a financial revolution, King of Capital is the greatest untold success story on Wall Street In King of Capital, David Carey and John Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and ‘barbarians at the gate’ into disciplined, risk-conscious investors while the financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, Morgan Stanley—were recklessly assuming risks, leveraging up to astronomical levels and driving the economy to the brink of disaster. Now, not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, but they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. Insightful and hard-hitting, filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Schwarzman and Peter Peterson, King of Capital shows how Blackstone and private equity will drive the economy and provide a model for how financing will work in the years to come.
The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance
Published to critical acclaim twenty years ago, and now considered a classic, The House of Morgan is the most ambitious history ever written about American finance. It is a rich, panoramic story of four generations of Morgans and the powerful, secretive firms they spawned, ones that would transform the modern financial world. Tracing the trajectory of J. P. Morgan’s empire from its obscure beginnings in Victorian London to the financial crisis of 1987, acclaimed author Ron Chernow paints a fascinating portrait of the family’s private saga and the rarefied world of the American and British elite in which they moveda world that included Charles Lindbergh, Henry Ford, Franklin Roosevelt, Nancy Astor, and Winston Churchill. A masterpiece of financial historyit was awarded the 1990 National Book Award for Nonfiction and selected by the Modern Library as one of the 100 Best Nonfiction Books of the Twentieth CenturyThe House of Morgan is a compelling account of a remarkable institution and the men who ran it, and an essential book for understanding the money and power behind the major historical events of the last 150 years.
The House of Dimon How JPMorgans Jamie Dimon Rose to the Top of the Financial World by Crisafulli, Patricia [Wiley,2009] (Hardcover)
Gold Medal Winner, Success and Motivation, 2011 Axiom Business Book Awards Insight from leaders who experienced major setbacks and redefined success In tough economic times, when careers are derailed and leaders are forced to rewrite their professional plans, this book enlightens and uplifts. Comebacks features an all-star cast of ten leaders who endured setbacks-for some a public fall in the midst of media scrutiny-then reassessed and moved ahead with new purpose. Based on revealing interviews, the book presents a behind-the–headlines glimpse into the lives of leaders; how they drew upon resources, both internal and external, to move on; and the lessons that helped them redefine success. Leaders profiled include: Jacques Nasser, former CEO of Ford Motor Co., recently appointed Chairman of BHP Billiton, the world's largest natural resources company Patricia Dunn, former Chair of Hewlett-Packard, vilified for her alleged role in corporate espionage only to be exonerated from all charges, today active in philanthropy Jamie Dimon (JP Morgan), Herbert "Pug" Winokur (Enron Corp.), David Neeleman (JetBlue), and more Redmond, a top executive recruiter, and Crisafulli, author of The House of Dimon, show how all leaders face adversity, but true leaders turn adversity into success.
Fool's Gold: The Inside Story of J.P. Morgan and How Wall St. Greed Corrupted Its Bold Dream and Created a Financial Catastrophe
From award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her news-breaking warnings of a crisis more than a year ahead of the curve, Fool’s Gold tells the astonishing unknown story at the heart of the 2008 meltdown.Drawing on exclusive access to J.P. Morgan CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the “Morgan Mafia,” as well as in-depth interviews with dozens of other key players, including Treasury Secretary Timothy Geithner, Tett brings to life in gripping detail how the Morgan team’s bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control. The deeply reported and lively narrative takes readers behind the scenes, to the inner sanctums of elite finance and to the secretive reaches of what came to be known as the “shadow banking” world. The story begins with the intense Morgan brainstorming session in 1994 beside a pool in Boca Raton, where the team cooked up a dazzling new idea for the exotic financial product known as credit derivatives. That idea would rip around the banking world, catapult Morgan to the top of the turbocharged derivatives trade, and fuel an extraordinary banking boom that seemed to have unleashed banks from ages-old constraints of risk. But when the Morgan team’s derivatives dream collided with the housing boom, and was perverted—through hubris, delusion, and sheer greed—by titans of banking that included Citigroup, UBS, Deutsche Bank, and the thundering herd at Merrill Lynch—even as J.P. Morgan itself stayed well away from the risky concoctions others were peddling—catastrophe followed. Tett’s access to Dimon and the J.P. Morgan leaders who so skillfully steered their bank away from the wild excesses of others sheds invaluable light not only on the untold story of how they engineered their bank’s escape from carnage but also on how possible it was for the larger banking world, regulators, and rating agencies to have spotted, and heeded, the terrible risks of a meltdown. A tale of blistering brilliance and willfully blind ambition, Fool’s Gold is both a rare journey deep inside the arcane and wildly competitive world of high finance and a vital contribution to understanding how the worst economic crisis since the Great Depression was perpetrated.
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