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JPMorgan's Dimon hits back at government over Bear Stearns suit
From: Yahoo! News - Latest News & Headlines — 10th October 2012 at 21:17
WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon on Wednesday lashed out at the government for a lawsuit alleging misdeeds at Bear Stearns, more than four years after JPMorgan was asked to rescue the teetering financial giant. Dimon said the company is still paying the price for doing the Federal Reserve "a favor" by buying Bear Stearns in early 2008. "I'm going to say we've lost $5 billion to $10 billion on various things related to Bear Stearns now. And yes, I put it in the unfair category," Dimon said, speaking at a Council on Foreign Relations event in Washington. ...
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