It looks like you can get a wrong answer asking for why ANY company went bankrupt:

> what led to the bankruptcy of jp morgan chase?

> The bankruptcy of JP Morgan Chase was likely due to a combination of factors, including a drop in liquidity, a decrease in market confidence, and the rising cost of debt. Additionally, JP Morgan Chase was heavily exposed to the risky subprime mortgage sector, and its increased risk-taking and lack of transparency about its financial activities likely contributed to its eventual downfall. Additionally, JP Morgan Chase also faced numerous legal issues, including investigations by the U.S. Department of Justice and the U.S. Securities and Exchange Commission, which may have contributed to its bankruptcy.

edit: it might be a special case with banks due to the difficulties in the late 2000's. It does get companies e.g. CNN or Fox correct.