Why Barclays opted for war when JPMorgan chose surrender
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
WHEN the US was seeking a record-breaking payment from JPMorgan Chase & Co for the sale of toxic mortgage-backed securities three years ago, Jamie Dimon went to Washington to sit down with Eric Holder, then the attorney general. Mr Dimon, normally an outspoken critic of regulatory over-reach, sought to make peace.
"I didn't go pounding the table," the JPMorgan chief executive officer recalled later in a Bloomberg Television interview. "I said, Eric, I'm here to surrender. You're my judge and my jury. I have no choice."
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
