Jamie Dimon testifies before a US Senate Banking Committee on June 13, 2012 on Capitol Hill in Washington, DC.
As Chairman and CEO of JPMorgan Chase, Jamie Dimon won plaudits for successfully steering the bank through the financial crisis and avoiding the worst abuses of the subprime mortgage market. But this year brought a reversal of fortune for the company and its leader with scandals such as the botched London Whale trade, which cost the firm billions. Dimon is now in the thick of negotiations with the Justice Department and other Washington regulators, trying to hash out the details of a reported $13 billion settlement, a number that would represent half of the firm’s profits last year. Dimon hopes it will put the firms’ financial crisis-related troubles behind it for good.
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