NEW YORK (MarketWatch) -- J.P. Morgan Chase & Co. (JPM) CEO Jamie Dimon made clear Friday that he doesn't intend to roll over to the demands of everyone who is suing his bank. In a statement Friday, he called the legal environment that the bank is operating in "highly charged and unpredictable," with "escalating demands and penalties from multiple government agencies." Dimon also said that the firm would continue to seek "a fair and reasonable settlement with the government on mortgage-related issues - and one that recognizes the extraordinary circumstances of the Bear Stearns and Washington Mutual transactions." Many of the lawsuits the bank is dealing with are related to practices undertaken by Bear Stearns and Washington Mutual before the crisis. J.P. Morgan didn't buy them until 2008, when they were near collapse.
-Christina Rexrode; 415-439-6400; AskNewswires@dowjones.com
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10-11-13 0801ETCopyright (c) 2013 Dow Jones & Company, Inc.
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