Diller to Feds: Show us the JPMorgan money

Money On Hook

IAC chief Barry Diller staunchly defended JPMorgan Chase 's efforts to put its legal woes behind it, saying Tuesday the bank has handled itself "quite well" in the face of relentless pressure.

Speaking at the Dealbook conference, Diller chided the government's efforts to put the squeeze on the largest U.S. bank. "You can't run a business like that without having all sorts of issues." The billionaire entrepreneur also questioned whether it was advisable for federal officials to deprive the bank of billions of dollars in a proposed settlement, which would effectively siphon that money from shareholders.

"What I want to know about the $13 billion is: Where is it actually going? A relatively small portion of it goes to people who were actually harmed," Diller said. "The vast majority of it goes to the government."

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image: © Tax Credits

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