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 finally appoint a successor. That worked for Hank Paulson, whom George W. Bush named Treasury Secretary in 2006, paving the way for Lloyd Blankfein to run Goldman Sachs. Of course, Hank had only been the C.E.O. of Goldman for seven years, a relatively short tenure compared to Dimon, now 67 years old, who has been at the helm of JPMorgan Chase since 2005, a nearly twenty year run that approaches Jack Welchian longevity.