Billionaire investor Warren Buffett continues to sing the praises of the leader of J.P. Morgan Chase & Co. even though the bank reportedly has agreed to pay a $13 billion settlement with the US government in regards to sales of mortgage-backed securities.
On Tuesday, Buffett said during an interview on Bloomberg television that he continues to show his support for J.P. Morgan Chase’s CEO and chairman Jamie Dimon.
Buffett also mentions that Dimon “had a gun to his head” and had no choice but to agree to pay the amount the government asked in order to address concerns about the quality of mortgage-backed securities that the company sold leading up to the financial crisis in 2008.
Buffett also mentions that diamond has done a fantastic job running J.P. Morgan Chase, and the country is actually much better off because of what Chase did in the midst of the Great Recession.
Warren Buffett is the CEO and chairman of Berkshire Hathaway, based out of Omaha, Nebraska.