“Four big banks once graced the Lasalle Street area of downtown Chicago, their line of march bounding along both sides of the street toward the majestic Chicago Board of Trade building. Bank One is the last to stand on its own.” [NYT]
And with that, Chicago loses its last money-center* bank headquarters — putting the city into the same league as Boston, Los Angeles, and Philadelphia, and possibly San Francisco if Wells Fargo is truly in play. Needless to say, Crain’s is shitting its pants, and the trixies are terrified.
Jamie Dimon also is eating his words [scroll to end]: “I did not come here to sell Bank One.” “I have no desire to move back to New York … I am not restless in Chicago.”
* Yeah, that phrase is outdated, but it brings back fond childhood memories of “Wall $treet Week in Review with Louis Rukeyser.”