Chrishaune
Veteran
JPMorgan Chase & Co. has avoided most of 2022's so-called hung deals that have cost competitors billions of dollars in paper losses. Whether by luck or by design, the biggest U.S. bank didn't make loans backing takeovers of companies such as Twitter Inc., Citrix Systems Inc. and Nielsen Holdings PLC, which fell in value as markets turned choppy.
JPMorgan's record contrasts with that of Bank of America Corp., which made large loans for buyers of Twitter, Citrix, Nielsen and others. Bank of America Chief Executive Brian Moynihan has consistently sounded an optimistic note about the U.S. economy, clashing with JPMorgan head Jamie Dimon's gloomier warnings.
There is one thing Mr. Dimon feels good about -- his firm's low exposure to bad buyout loans, which bankers call leveraged loans.
Obviously JP is tied in with World Government. Bank of America is probably going to be one of those that doesn't exist after a while.