Last Man Standing

Duff McDonald Simon & Schuster Biographies English Paperback 9781416599548

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9781416599548
Paperback
Rs 1614.15

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Pages	:	352
Release Date	:	19 October 2010
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Weight	:	‎ 145 g
Dimension	:	13.97 x 2.79 x 21.43 cm
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ISBN-10/SKU/ASIN	:	1416599541
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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.

A contributing editor at The New York Observer, Duff McDonald has also written for Vanity Fair, The New Yorker, New York magazine, Fortune, and Esquire, among other publications. Excerpt. © Reprinted by permission. All rights reserved. PROLOGUE

On the morning of September 18, 2008, the phone rang in Jamie Dimon&;s office. It was Hank Paulson, the secretary of the treasury. For the second time in six months, Paulson had a pressing question for the chairman and CEO of JPMorgan Chase. Would Dimon be interested in acquiring the floundering investment bank Morgan Stanley&;at no cost whatsoever?

During one of the most tumultuous months in the history of the stock market&;stocks fell 27 percent between August 29 and October 10, 2008&;the storied investment bank Lehman Brothers had already failed, the brokerage giant Merrill Lynch had been sold to Bank of America, and the insurance heavyweight AIG had received an emergency loan of $85 billion from the federal government. On