What is the greatest threat to JPMorgan Chase right now? The recession? The surge in consumer debt foreclosures? How about the creeping nationalization of its biggest competitors, Bank of America and Citi, according to Jes Staley, head of JPMorgan's asset management and private banking operations.

The issues is that the government's new role in running the two big banks might eventually puts his company in the tough position of having to compete against de facto government entities, the Financial Times reports. We're indeed in some tricky waters regarding the bailout. Hopefully, it will not get to the point that the government will actually have a strong hand in management, though the Treasury's influence cannot be denied now.

For more:
- here's the Financial Times article

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