Dimon Diplomacy & More Zazonomics

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Happy Sunday, and welcome back to Dry Powder.

Jamie Dimon’s latest effort to save the banking industry has some wondering if he could succeed Janet Yellen as Treasury Secretary—the perfect closing chapter to a long and distinguished career. But who would replace him atop JPMorgan Chase? Today, a look in and around JPMC for the most likely candidates, some notes on Zaz’s salary slump, and further observations about Elon’s ongoing Twitter delusions.

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Dimon Diplomacy & More Zazonomics

News and notes on the inside conversation on Wall Street: “The Jamie and Janet Show,” David Zaslav’s incentives, and Elon’s fuzzy math.

WILLIAM D. COHAN

For the second time in 15 years, Jamie Dimon was asked to serve on a Wall Street rescue committee, this time joining forces with Janet Yellen to lead an effort among 11 rival banks to stabilize First Republic. It was, as the Times reported, “the Jamie and Janet show,” a veritable reprise of Dimon’s role during the 2008 crisis, raising questions once again of whether this was simply the noblesse oblige of running the world’s largest bank or a preview of his ambitions to run the Treasury, himself.

It could be both, of course. What Wall Street banker wouldn’t want to have the chance to serve as Treasury Secretary as a capstone to a long and distinguished career? The opportunity for Dimon to join the White House cabinet would also provide Dimon with the perfect cover to...

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