Joshua Franklin

speaker

155 appearances 1 recordings 1 series first heard Jul 2026 last heard 23 Jul

Joshua Franklin’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Unhedged · How JPMorgan won · 23 Jul 2026 podcast

Yeah.

So the 2010s, it's like good but not great decade for banking generally.

And same for J.P.

Morgan.

Yeah.

Diamond has a few missteps, most notably the London whale where JP Morgan lost $6 billion over in its trading business.

But that's not job threatening for him in the end or anything like that.

But it's not a period of rapid growth.

And to your point, things start to accelerate a lot for JP Morgan starting in 2022.

And that's when we see interest rates start increasing a lot.

Just to put it in context in terms of this crazy growth over the last four and a half years or so that JP Morgan has had, on the day the Fed started lifting interest rates in March of 2022, JP Morgan's market cap was about $350 billion.

Bank of America, which is the number two bank in size, was $280 billion.

So about a $70 billion gap.

Today, the gap between those two is about $500 billion.

So JP Morgan's worth over $900 billion.

It's going to start knocking on the door pretty soon, probably of a trillion dollars.

Bank of America is down at $430 billion.

Yeah.

And Bank of America took the decision, okay, we've got all these cheap deposits.

Let's deploy them in longer yielding assets.

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