J.P. Morgan - Not an Investment Bank?

Discussion in 'Trading' started by switze22, Sep 21, 2008.

  1. Why is everyone saying Goldmann and Morgan are the only 2 Investment Banks left?

    Is J.P. Morgan not one?
  2. No, JP Morgan has been a commercial bank since the Glass-Steagal (sp?) act was put into place in the 1930s (the house of Morgan was split into Morgan Stanley and JP Morgan at that time, with MS being the investment banking entity and JP Morgan being the commercial banking entity).

    Of course with the Glass-Steagal act repeal a few years back, JPM has been pushing more into investment banking. But JPM does take customer's deposits and lends, whereas GS and MS do not (they are purely investment banks).
  3. Jamie Dimon will merge with anything!
  4. Yet JPM is one of the soundest financial institutions in the country.
  5. Is that really saying much in this environment?
  6. Good question, I suppose that only time will bear me out on this one :p