OMAHA (AP) — Investor Warren Buffett continues to praise JPMorgan Chase & Co.'s leader even after the bank reportedly agreed to a $13 billion settlement with the government over its sales of mortgage-backed securities.
Buffett said on Bloomberg television Tuesday that he continues to support JPMorgan Chase's Chairman and CEO Jamie Dimon.
Buffett said Dimon "had a gun to his head" and had to agree to pay what the government asked to address concerns about the quality of mortgage-backed securities it sold in the run-up to the 2008 financial crisis.
Buffett said Dimon has done a great job running JPMorgan, and the country is better off because of what that bank did during the Great Recession.
Buffett is chairman and CEO of the Omaha, Neb.-based Berkshire Hathaway Inc. conglomerate.
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