The reality is, the lender can’t wriggle out of WeWork as easily as your traditional investment bank, whose responsibilities end when an IPO is pulled. JPMorgan has been at WeWork’s side the entire time, grooming the company to become the $47 billion bubble that it was. With WeWork, JPMorgan did just that. Jefferies Financial Group Inc., for instance, already wrote down the value of its WeWork investment by $146 million. And well-loved by shareholders, JPMorgan can afford to take some risks, such as branching into lending to non-conventional corporates (like WeWork).

Source: Washington Post October 15, 2019 06:57 UTC