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JPM Email Story Gains Legs
Did Banco Santander and JPMorgan Chase aim to cut a deal that would trade investment banking business for acquisition targets?
That’s essentially the question swirling around an email made public last week by TheStreet.com and gaining some legs in the blogosphere.
I’ve read the email and it certainty “sounds” somewhat like a banking-for-M&A-targets deal was contemplated, but that’s the farthest extent of it. Certainly, nothing has come from it since 2008, when the meeting was held. Additionally, folks, it’s an email written by a banker, Jose A. Cerezo. This is not the tablets from Mt. Sinai. Cerezo could easily have just poorly chosen his words. It can happen. I know, I’ve written more than a few such words in my day.
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