Our finance editor, Charles Forell, is a nerd.

I love talking about banks on this podcast.

I mean, I love talking about banks, period, but I really love talking about banks on this

podcast.

I think that's amazing.

And we love hearing you talk about banks on this podcast.

It's just fantastic.

Charles has been nerding out a lot recently because the country has been going through

a major banking crisis.

Last month, the government took over two banks.

And on Monday, it took over the 14th largest bank in the country, First Republic, and then

sold it to JP Morgan Chase, the biggest bank in the country.

It's like a Python eating a garden mouse.

I mean, you barely see First Republic passing through the gigantic body of JP Morgan.

It just kind of like disappears into the giant mall of JP Morgan.

What does that say about JP Morgan's role in the US banking system?

JP Morgan, the bank, has really emerged as the kind of preeminent bank in the United States.

So a lot of banks in the post-financial crisis, ARA have tried to do a lot of different things.

And JP Morgan is one that has, is the one that has emerged with a tremendous amount of

stability, a tremendous amount of earnings, power, ability to make a ton of money, and

played as a kind of rescuer to the less fortunate in the banking universe.

Welcome to the journal, our show about money, business, and power.

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