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Jamie Dimon: America's Least-Hated Banker

Jamie Dimon: America’s Least-Hated Banker

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Jamie Dimon: America’s Least-Hated Banker

Roger Lowenstein | The New York Times | December 1, 2010 | 8,094 words

At Bank One, Dimon had ceased buying mortgages from outside brokers because their performance was poor. At Chase, he bought them. When I asked why, Dimon said underlings convinced him they were exercising proper caution, adding, “It was a huge business, packaging and selling [the loans] to Fannie Mae.” Turning silent, Dimon rotated his palms face up — as if nothing could excuse his error. “I bought that crap,” he concluded.