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Ex-JPMorgan Exec Says Jamie Dimon Withheld Data From U.S.

JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses, according to congressional testimony Friday from the firm's former chief financial officer.

Tears for JP Morgan? Not Likely

The CEO defends the bank's bounteous bonuses by talking about how hard his employees work. But wouldn't everyone -- including American taxpayers -- be better off if JP Morgan plowed most of that bonus pool back into reserves against future losses?