Dimon Says He’s Surprised by Probe Costs Tied to Bear Stearns
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, who reached a $13 billion settlement to resolve mortgage-bond disputes, said he was surprised by costs tied to the purchase of Bear Stearns Cos.
“It was a house on fire, it was imploding,” Dimon said today on a conference call when asked about how he views the 2008 acquisition. “We did it because we were asked to. We never expected this kind of stuff to happen.”