Boom Bust and Blame

Crisis A-Z


Jackson, Alphonso:
13th United States Secretary for Housing and Urban Development. He served from March 31, 2004 to April 18, 2008 under the administration of President George W. Bush. Before taking the position, Jackson was HUD's Deputy Secretary and Chief Operating Officer, his job since 2001.Born in Marshall Texas on September 9, 1945, Jackson holds bachelor's and masters degrees from Truman State University. He also earned a Juris Doctor degree in 1973 from Washington University. Jackson and is married and has two daughters.

JP Morgan:
Assets of $2.3 trillion make JP Morgan Chase (NYSE: JPM) a clear leader in the financial services industry and it's the result of a combination of mergers between large U.S banking corporations including Chase Manhattan Bank, J.P. Morgan & Co, Bear Stearns and Washington Mutual. They operate in over 60 countries and have more than 200,000 employees, specializing in investment banking, financial services, small business and commercial banking, financial transaction processing, and asset management. The JP Morgan Chase operates under the JP Morgan, Chase, and WaMu brands.

With headquarters located in New York City, JP Morgan Chase has a history that reaches back to the 1700s. However, more recent turn of events have made JP Morgan Chase the company that it is nowadays. Such events include the 1991 merger of Chemical Banking Corp with Manufacturers Hanover Corp., making Chemical Banking the second largest bank in the U.S. and the merger of JP Morgan with Chase Manhattan Corp. in 2000.

CEO and Chairman Jamie Dimon leads JP Morgan Chase and the company's market cap is about $123 billion.