In this episode of the Money Stuff Podcast, Matt Levine and Katie Greifeld discuss JPMorgan's new headquarters, including its amenities like Morgan's pub and a fitness center, and the surrounding real estate the company owns. They then delve into a story about OpenAI hiring former investment bankers to train AI in building LBO models, touching on the debate of AI replacing junior bankers and the importance of attention to detail in financial modeling. Finally, they discuss recent credit problems and potential fraud in lending firms, using the "cockroach" analogy to describe the compounding nature of these issues in the financial system.
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