From:

From: Jeffrey Epstein <* evacatio mail.com> To: Jes Staley < Sent: 7/2412009 1:35:33 AM Subject: point 1. no reason to wait for two years.. 2, take advantage of the economic climate to make immediate changes . black an impediment. 3. It will take 18 months to two years to get it firing on all cylinders. 4. you are excited about it, you have given it alot of thought.. 5 ONce Jamie decides which direction to take itin„ you will get it done. If he wants to be as agressive as goldman , it needs to be surgical„ there are great people on the street. they will not be availble for ever. good deals can be made. NOW 6. thisis the perfect time asset mangement , running well„ get the investment bank cranking , you are the only real bank on the block . SDNY_GM_00077210 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000337 EFTA_00187682 EFTA01300191