'Would I have done Bear Stearns again knowing what I know today ?' Dimon said in Washington Wednesday. 'It’s really close. Knowing what I know today, if they called me again to do something again like that, I couldn’t do it'.
The board of the New York-based bank probably would veto the idea because of all the financial obligations that followed, he said. 'We’ve lost $5 to $10bn on various things related to Bear Stearns', Bloomberg reports that Dimon, 56, told an audience at an event sponsored by the Council on Foreign Relations.
In the meantime, Reuters reports that Dimon lashed out at the U.S. government for a lawsuit alleging misdeeds at Bear Stearns, more than four years after JPMorgan was asked to rescue the teetering financial giant.
Finally, Reuters also reports that Dimon said that he should have caught the 'London whale' derivatives trades that resulted in a multibillion-dollar loss for the bank.