Global Financial Industry : The Financial Crisis

839 Words Jul 25th, 2016 4 Pages
In 2008, the global financial industry experienced dramatic changes when the global financial crisis came furiously. In the United States, the historical changes appeared in the structure of investment banking. These changes included the fifth-largest US investment bank, Bear Stearns and the third-largest US investment bank, Merrill Lynch was acquired respectively, and the fourth-largest US investment bank, Lehman Brothers declared bankruptcy. In addition, the Goldman Sachs and the Morgan Stanley had no choice but to transform separately into the bank holding company. Moreover, the American government took over the Fannie Mae and the Freddie Mac and held a major share in the American International Group. There were also various events about the bankruptcy and merger of the other financial institutions. In the wider world, some banks in Belgium, Britain, Switzerland and Germany also got into the dilemmas and troubles, and these banks accepted the government aids without choices.
However, under the continuing instability in the global financial industry, the JP Morgan not only kept profits in every quarter, but also remained upwards in a falling market from their investment banks businesses, and they showed the most outstanding performance in the global financial industry. At present, the general assets of JP Morgan has already arrived $1.2 trillion.
According to the latest performance reports which the JP Morgan recently released, that showed the operating income of the JP…
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