In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
In particular, Morgan has enormous amounts of cash. For example, Chase had $1.436 trillion in cash and short-term investments on 31 December 2021. The cash and short-term investments grew from $1.327 trillion on 31 December 2020.
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JPMorgan Chase, Goldman Sachs (NYSE: GS) Pfizer Inc. (NYSE: PFE), and the Western Asset Management Company participated in the actual $150 million Yankee CD, American Banker reported. JPMorgan’s Blockchain Center of Excellence tested a mock transaction of a debt issuance in the same amount to see if it was possible on 21 April 2018.
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