Jamie Dimon still a Bear with a sore head

Jamie Dimon

Paying and paying and paying for it again.

Jamie Dimon got Bear Stearns for a bargain price — and he says he’s still paying for it.

The New York Post reports that seven years after the financial crisis, the JPMorgan Chase boss now says he totally regrets buying the teetering Wall Street firm — at the urging of the government — for a steep discount.

Roughly 70% of JPMorgan’s $19bn of mortgage-related legal bills stems from the acquisition of Bear Stearns and another faltering firm, Washington Mutual, during the financial crisis, according to Dimon.

'In case you were wondering: No, we would not do something like Bear Stearns again — in fact, I don’t think our Board would let me take the call', he wrote in his latest annual letter to shareholders.

To access the complete New York Post article hit the link below:

Dimon says no doubt about it: Bear Stearns was a bad idea

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