JPMorgan, elbowed out of securities trading by Glass-Steagall (Morgan Stanley was carved out of the old House of Morgan to become the underwriting business), is now near the top of the global M &A league tables.

• 因为格拉斯-斯蒂格尔法案（摩根斯坦利从老摩根家族分出经营保险业务）而被挤出证券交易业的JP摩根，现在业绩正在登顶全球并购企业。