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Dimon: We did Fed a favor on Bear Stearns

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JPMorgan Chase & Co. CEO Jamie Dimon told a Washington audience he wanted to set the record straight on the bank’s 2008 Bear Stearns purchase, which he said was done as a favor to the Federal Reserve. Dimon also commented on the looming fiscal cliff and the Volcker rule in a wide-ranging discussion at the Council on Foreign Relations.

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