JPMorgan Chase Chief Executive Jamie Dimon said his company has lost up to $10 billion as a result of the government asking him to buy teetering Wall Street firm Bear Stearns during the financial crisis. “Someone said the Fed did us a favor to finance some of this or something like that. No no no. We did them a favor,” Dimon said, speaking at a Council on Foreign Relations event. “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,” the CEO added. [CNBC]

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Comments (19)

  1. Posted by Guy with A.D.D. | October 10, 2012 at 4:04 PM

    Jamie,

    You should've bought MY company instead. You'd still be reaping the rewards

    - Angelo Mozillo

  2. Posted by guest | October 10, 2012 at 4:17 PM

    Says the guy who quintupled his equity purchase price post-signing, just because.

  3. Posted by Guest | October 10, 2012 at 4:23 PM

    Still beats 0.

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    I won

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  13. Posted by Stevie Boy | October 11, 2012 at 2:42 AM

    Yeah, we lost a shit ton of money on that acquisition. Thanks Bear.

    - L. Whale

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