LET'S UNLOCK WORDS AND PHRASES 🔐
mitigate
mitigate
verb
It is unclear how to mitigate the effects of tourism on the island.
wield
[ weeld ]
verb>
The CEO learned to wield her influence effectively to drive the company's strategic decisions.
regulator
[ ˈreg-yuh-ˌley-ter ]
noun
The financial regulator has some limited powers to fine directors or companies.
tremendous
[ trih-ˈmen-duhs ]
adjective
She is under tremendous pressure at work.
market cap
noun
Apple's market cap reached $3 trillion, making it one of the most valuable companies in the world.
LET'S TAKE A LOOK! [ FULL CLIP ]
What is the video all about?
LET'S TRY IT! - FIRST CUT
A. Script Completion
Direction: Watch the first cut of the video and complete the following lines below with the missing words or phrases. Write or type down your answers while listening.
⏱ 03:23 - 04:54
Narrator: JP Morgan Chase is the world's biggest bank (1) ______ ________ ________ and one of the biggest companies of any kind. In 2023, they (2) _________ ________ _______ for the most profits of any US bank ever. $49.6 billion. It's no exaggeration to say that entire economies depend on this bank. JP Morgan played a crucial role in (3) __________ ________ _________ during the 2008 financial crisis.
Dimon: The better we do here, the better be for the United States economy.
Narrator: And more recently stepped to (4) _______ ________ _________ from the collapse of Silicon Valley Bank and First Republic. Dimon regularly speaks with prime ministers and presidents around the world, and there's been (5) _______ ________ _________ he might run for office someday. All this translates into a great deal of power and influence. You've built a bank that's $4 trillion in assets and accounting. How big is too big?
Dimon: I think the question is, What works for consumers and industries and stuff like that? So, you know, if you want to build (6) _____ _______ _________ , you have to be big. You can pretend that you don't. If you want to do what JP Morgan does, we move $10 trillion of money around the world every day. We bank some of these companies in 30 countries. We bank countries; we bank the World Bank, the IMF, and the United States government. You have to be big. You can't do those (7) ________ _______ ______ ______ . I applaud the small banks. We... We are the biggest banks to community banks and (8) ___________ _________ and stuff like that. And I understand, you know, some of the stress they're under; we're trying to help. So it's not either or.
LET'S PRACTICE - SECOND CUT
A. Script Completion
Direction: Watch the second cut of the video and complete the following lines below with the missing phrases.
⏱ 04:55 - 07:19
Narrator: So going a little bigger picture now, you run the biggest bank in the world, you have our money, you've got world leaders (1) ________ _________ __________. That's a lot of power. How do you decide when and how to wield that power?
Dimon: Yeah, I'm not sure I have a lot of people on speed do, so you... you say all that. Sometimes I think I'm just riding the Bronco and hanging on for deal life. I... you know, I love what I do. I try to talk to everyone. I try to keep my mind open. I... one of the benefits from traveling the world, you know, is just in Mumbai and, and Switzerland and seeing clients, you learn a lot and you try to make sure you're... that you're doing the (2) _______ ________ of the world. You're... that you're looking at the options. You're not like just saying we're gonna do this. I look at it as part of our job to try to have countries, to help countries do the best they can for their citizens. So we bank countries. We also advise them on skills and trade and economics. You look at our research, it's a lot around. How does an economy run? So when you go to, like when I got back from Mumbai, we research 150 companies now or something like that. So we're educating the world about those companies. We're educating the world about the Indian economy. As we do that, we educate, also educate the Indians about what (3) ________ ______ _______ ________ and what doesn't work. And those are important things to lift up society.
Narrator: You've got this reputation as a sort of (4) _______ ________ for the economy. Do you ever feel pressure to come in with the save?
Dimon: I feel a tremendous amount of pressure to do, obviously, my family comes first, okay. But to do a great job for my company and our clients, I also feel (5) _______ ________ ________ to do a good job for my country. So, you know, when my country wants me to do something and we talk all the time to, you know, the senators and regulators, what can we do to make the system better? To lift up the country, (6) _________ _______ _______ the cities. We're trying to figure out how to make society better and I do consider that part of our job.
Narrator: You grew up talking finance at the kitchen table as a kid. What was it like growing up Jamie Dimon? What do you think prepared you for all this?
Dimon: Well, I grew up in Jackson Height, Queens and my grandparents three were Greek immigrants. One was born here. I don't think any of the four finished high school. It was (7) ______ _______ ________, people arguing and stuff like that. But my parents were, while my dad was a stockbroker, you know, I was the only one that took interest in that reading the paper, understanding. I bought a stock when I was 12, 13, or 14. You know, they didn't ask us to (8) ________ _________ _________. So my older brother's a physicist, my other brother's a teacher. And so it was basically do the best you can, make the world a better place, treat everyone with respect, have a purpose in life. It was more around that, but a lot of intellectual debate at the table.
LET'S DO THE CHALLENGE - FULL CLIP
Direction: Answer the following questions based on the video and let's check your comprehension.
⏱ 03:23 - 07:19
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What is JP Morgan Chase's significance in the global economy?
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How did JP Morgan Chase respond to the 2008 financial crisis?
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How does Jamie Dimon view the size of JP Morgan Chase?
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What is one of the pressures Jamie Dimon feels in his role?
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What was Jamie Dimon's childhood like in terms of finance?